The President should calm down, sit down and read the Investment Agreement and the associated Shareholder Agreement for OTLLC. Management fees are prescribed for Turquoise Hill and management of the mining and concentrator project is vested in Turquoise Hill subject to the oversight of the Board of Directors of OTLLC, which has Mongolian participation. Reporting periods - quarterly, annual audited financials, are clearly set out.
Just a bunch of political hot air. OTLLC was never concieved of as the day-to-day manager of the mine, but as a shareholding and dividend vehicle with financial oversight.
The suggestion Mongolains could control costs or run the mine development with greater skill or economy than RioTinto through Turquoise Hill is laughable. The President himslef has never run a business - his whole career has been school, journalism and politics. No payroll, no operations, no experience. Not qualified to run a lemonade stand. Maybe he should share the brilliant Mongolian expertise that has been brought to bear at TT?
Dirty politics, he knows full well Rio Tinto is being careful to abide by their agreement, and to complain that the capital investment in Mongolia is greater than was first anticipated ... ??? No credibility except with the vodka-soaked post-soviet nincompoops.
Frustrating to have to read/listen to this kind of nonsense. There is no scar on Mongolia - Mongolia has been blessed with a fantastic business partnership. Just shut up and stop the constant whining already.