Mongolia at Investment ‘Turning Point,’ Cabinet Secretary Says
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Mongolia aims to show its relationship with foreign investors has reached a “turning point” by progressing on development of two of the country’s largest mines, Cabinet Secretary Saikhanbileg Chimed said.
The nation needs to follow last week’s passage of a law ending different treatment of foreign and local companies with “a good chain of events,” Saikhanbileg said in an Oct. 3 interview in Ulaanbaatar. Progress on funding the second phase of the Oyu Tolgoi mine being developed with Rio Tinto Group Plc and preparations to list the state-owned Erdenes Tavan Tolgoi mine are among steps that would bolster confidence, he said.