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Mongolia Renegotiates $18 Billion Oyu Tolgoi Deal Amid Concerns

3/10/2026

38 7 Full Breakdown

Summary

Story summary

Mongolia renegotiates the $18 billion Oyu Tolgoi mine deal with Rio Tinto, noting its crucial role in copper production including EV manufacturing.
Prime Minister Gombojavyn Zandanshatar says the current agreement deceives the Mongolian people.
The government seeks to lower the loan interest from over 11% to below 6% and eliminate the annual management fee.
Rio Tinto, owner of 66% of the mine, negotiates to maximize the project's potential.

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Story summary

Mongolia renegotiates the $18 billion Oyu Tolgoi mine deal with Rio Tinto, noting its crucial role in copper production including EV manufacturing.
Prime Minister Gombojavyn Zandanshatar says the current agreement deceives the Mongolian people.
The government seeks to lower the loan interest from over 11% to below 6% and eliminate the annual management fee.
Rio Tinto, owner of 66% of the mine, negotiates to maximize the project's potential.