Particle.news
Download on the App Store

Parliament Intensifies Oyu Tolgoi Review, Citing 6.4 Trillion MNT Paid and Scrutinizing Loan Terms

The inquiry now incorporates official tax tallies alongside expert testimony on shareholder loan pricing.

Overview

  • The temporary inspection committee continued public evidence hearings, with 84 of 109 summoned witnesses slated to participate on December 10.
  • The General Taxation Authority reported Oyu Tolgoi paid a total of 6.4 trillion MNT in taxes, fees and payments from 2001 through September 5, 2025, based on six audits including about 1.3 trillion MNT settled in 2021.
  • Former official S. Bayartsogt testified that shareholder loan pricing agreed under difficult conditions was renegotiated in 2011 to LIBOR/SOFR plus 6.5%, describing the variable-rate structure and market context.
  • Project impacts remain under examination, with company data citing roughly 86.5% process‑water reuse and 211 billion MNT in water‑use fees since 2013, as a hydrogeological re‑evaluation proceeds with SRK Consulting.
  • The Government issued austerity directives and stepped‑up tax collection guidance, ordering no public funds for New Year or agency anniversary events as anti‑corruption efforts are accelerated.