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Mongolian Government - Oyu Tolgoi Financing Represents a Global Vote of Confidence in the Country and Paves the Way for Increased Foreign Investment

Government of Mongolia
2015-12-16 18:46 3179

ULAANBAATAR, Mongolia, Dec. 16, 2015 /PRNewswire/ -- Today's signing of a landmark US$4.4 billion project financing agreement for the Oyu Tolgoi underground mine in Mongolia is one of the largest ever in the mining industry. The funding, which has been secured from a very high quality syndicate of global lenders, underlines the market's support for and confidence in the project and our country.

The cooperative partnership that has been forged this year, in reaching this important milestone, augurs well for the future success of the project, and paves the way for increased foreign investment into Mongolia. The Government of Mongolia has garnered valuable experience in interacting with foreign investors and in managing the country's strategic assets, and is fully committed to maintaining an investment environment that is conducive for foreign capital.

Development of the underground phase of Oyu Tolgoi will unlock the remaining 80% of the value of the entire mine. It will contribute significantly to the economy of Mongolia and play an integral role in assisting the Government in its efforts to improve the quality of life of Mongolian citizens.

At a signing ceremony hosted today in Ulaanbaatar, Prime Minister Saikhanbileg emphasised that the Government's interests in Oyu Tolgoi will be managed on a business to business basis, and stated that the agreement is a global vote of confidence in Mongolia that reopens the doors to the leading global banks for Mongolia projects.

Source: Government of Mongolia
Keywords: Mining Mining/Metals
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