Overview
- The temporary oversight committee began multi‑day public hearings on December 10 to scrutinize the Investment and Shareholders’ agreements, summoning 109 witnesses with 84 in attendance.
- Testimony focused on shareholder loan pricing set at a floating benchmark plus 6.5%, with figures indicating an effective average near 8% over 15 years and rates exceeding 10% in recent years after the shift from LIBOR to SOFR.
- The Tax Authority reported Oyu Tolgoi paid a cumulative 6.4 trillion MNT in taxes, fees and charges from 2001 through September 5, 2025.
- Oyu Tolgoi’s chief executive said the mine became cash‑flow positive in 2025 after heavy capital spending, while high debt is driving reviews of refinancing options and dividend timing.
- Lawmakers heard technical evidence on groundwater management and high process‑water reuse near 86.5%, and exchanges flared over responsibility for delivering a domestic power source; separately, the government ordered year‑end budget savings and a committee backed advancing debate on repealing a 2% real‑estate sales tax.