Overview
- Hearings began December 8 and run through December 12, with the committee saying it collected 92,467 pages of evidence, about 51% marked secret, while Oyu Tolgoi said these labels do not restrict the committee’s access and reflect internal information controls.
- Oyu Tolgoi executives told lawmakers that feasibility and reserve estimates are updated regularly, with production planning to 2051 and geological potential modeled to 2100 based on ongoing studies.
- OntrE Resources’ chief executive testified that its licensed areas are part of a contiguous Oyu Tolgoi deposit and would be uneconomic to mine separately, referencing cooperation frameworks under the 2009 investment agreement.
- Former finance minister S. Bayartsogt said at the hearing that a Russian company has sued Rio Tinto in a Kaliningrad court and proposed taking its Oyu Tolgoi stake as compensation, raising concerns about external legal risks.
- The committee scheduled additional sessions on December 10 and 12 to examine shareholder financing and interest rates, noting proceedings are generally public but sections may be closed under law for classified material.