Mongolian Prime Minister Zandanshatar Gombojav held a virtual meeting on November 11, 2025, with Katy Jackson, Chief Executive of Rio Tinto’s Copper Division, to discuss the Oyu Tolgoi project. The leaders focused on boosting Mongolia’s benefits while moving negotiations forward.
During the meeting, both sides confirmed that discussions on reducing the project’s loan interest rate and management fees had made strong progress. They reported reaching a principled agreement on key terms. Prime Minister Zandanshatar stressed that loan interest reductions must be considered separately from licensing issues involving Ontre LLC.
The Prime Minister emphasized that appointing the Oyu Tolgoi company’s CEO from Mongolia would secure the country’s influence over project operations. He argued this step would guarantee that Mongolian interests remain fully represented.
Katy Jackson reaffirmed Rio Tinto’s commitment to closely cooperate with the Mongolian government. She confirmed the company would implement the Prime Minister’s proposals and work to increase Mongolia’s share of Oyu Tolgoi project benefits.
Oyu Tolgoi is among Mongolia’s largest mining investments and a key contributor to economic growth. Experts note that the project’s financial and operational structure directly affects national revenue and job creation in the mining sector.
This meeting occurs amid a broader government effort to optimize returns from strategic mineral resources. Both sides agreed on the need to advance talks rapidly and achieve measurable results.
Analysts highlight that Oyu Tolgoi’s loan restructuring and executive appointments could set a precedent for future joint ventures. They emphasize that local leadership representation strengthens transparency and accountability.
Moving forward, Mongolia and Rio Tinto plan to continue high-level discussions to finalize the loan, management fees, and CEO appointment. Both sides aim to implement steps that enhance Mongolia’s economic benefits while maintaining investor confidence.
