Ulaanbaatar
Government Task Force to Enter Talks with ‘Entrée Resources’
Society
Ulaanbaatar, December 15, 2025 /MONTSAME/. On December 10, 2025, Minister of Industry and Mineral Resources, Government Member Damdinyam Gongor, met with Stephen Victor Scott, President and CEO of Entrée Resources Ltd, and announced the formation of a government-appointed task force to conduct negotiations under the instruction of the Prime Minister of Mongolia.
He noted that, as Entrée Resources holds certain exploitation licenses within the Oyu Tolgoi group of deposits, it is necessary to treat the Mongolian side with respect and commence negotiations immediately.
The Mongolian side has expressed the following positions:
1.
Conclude a new investment
agreement with the company.
2.
Reject and not recognize as valid
any matters allegedly agreed with the Rio Tinto Group that did not involve
Mongolia.
3. Determine the state-owned share and structure the new investment agreement based on the Mineral Resource Royalty (MRR) framework.
As a result of the meeting, both sides agreed
to form a task force to start negotiations in the near future.
