Overview
- The temporary oversight committee held public hearings on December 10, summoning 109 witnesses and taking testimony from 84 participants on investment, shareholder agreements and financing terms.
- Mongolia’s Tax Authority reported Oyu Tolgoi has paid a cumulative MNT 6.4 trillion in taxes, fees and charges from 2001 through September 5, 2025, noting multiple audits including a large 2021 settlement.
- MPs and experts alleged shareholder lending imposed excessive costs, citing claims that a $6 billion loan could generate $19 billion in interest, while Oyu Tolgoi’s finance chief countered that historical average rates were about 7.2% and currently near 10.9%.
- Oyu Tolgoi’s CEO said the project has only recently reached positive cash flow following major build‑out, as lawmakers also pressed concerns over board control and called to strengthen Erdenes Oyu Tolgoi’s technical capacity.
- In parallel fiscal moves, the Budget Committee voted to send a draft resolution to the floor on scrapping the 2% real‑estate transfer tax, and the Government ordered strict spending cuts and assistance measures for taxpayers to clear arrears.