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The Oyu Tolgoi mining project is the largest financial undertaking in Mongolia's history and is expected upon completion to produce 450,000 tonnes (500,000 short tons) of copper annually. Financing for the project has come in part from the Rio Tinto Group and an investment agreement between Ivanhoe Mines and the government of Mongolia.
He was one of three sponsors of the controversial Windfall Profits Tax that was abolished when the Mongolian government signed an Investment Agreement for the Oyu Tolgoi mine. During his third parliamentary term, he served as the Chairman of the Standing Committee on Security and Foreign Policy from 2008 to 2011.
Oyu Tolgoi, the world's largest gold, 3rd largest copper and gold mine still requires $4.6 billion in investment before construction is complete in 2012; annual production is scheduled to be 544,000 tonnes for copper and 650,000 ounces for gold.
Under the terms of the JV Agreement, the Manager is required to hold all assets including the Shivee Tolgoi and Javhlant mining licenses. We have believed for some time that the full potential of Panel 1 operations cannot be realized unless title to the Shivee Tolgoi mining license is transferred from Entrée’s Mongolian subsidiary to OTLLC ...
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After the Oyu Tolgoi investment agreement was signed in 2009 the first phase of the Mongolian mining boom started. Ulaanbaatar as the capital of the country came to be labelled one of the world's top frontier investment destinations. From 2009 to 2012 Ulaanbaatar's position rapidly rose in the investment world.
In Mongolia, copper mining is a major industry and source of income for the country. There are only two companies that produce copper concentrate, Erdenet Mining Corporation, a Mongolian-Russian joint venture, and the Oyu Tolgoi mine, a joint venture between Rio Tinto Group, Turquoise Hill Resources, and the Government of Mongolia.
Meanwhile, the S&P 500's current high valuation, which sits at a 21.5 forward 12-month price-to-earnings ratio, per FactSet, is well above the five-year average of 19.7 and the 10-year average of ...