Entrée Resources Provides Update on Entrée/Oyu Tolgoi Joint Venture License Matters
Mongolia’s government has intensified scrutiny over key mining licences tied to the Oyu Tolgoi project. A special parliamentary committee held public hearings in December 2025, drawing testimony from former leaders and major stakeholders. Meanwhile, Entrée Resources Ltd. has taken legal steps to clarify tax calculations linked to its joint venture interests in the region.
In early 2025, Mongolia’s Prime Minister formed a working group to negotiate the state’s stake in the Oyu Tolgoi joint venture (JV) licences. Led by the Minister of Industry and Mineral Resources, the team includes officials from the finance and justice ministries, along with legal and financial experts from state-owned enterprises. Their goal is to define Mongolia’s economic interest in the project, which varies between 20% and 30% depending on mineralisation depth.
The Parliament of Mongolia also established a Temporary Oversight Committee to investigate the broader Oyu Tolgoi deposits. Over three days in December 2025, the committee heard from around 300 witnesses, including ex-prime ministers, presidents, and ministers. Representatives from Rio Tinto and Oyu Tolgoi LLC—who hold an 80% (or 70%, depending on depth) economic interest—also testified. Stephen Scott, President and CEO of Entrée Resources, attended the December 8 session to address questions about his company’s role. Entrée Resources, which holds a 20% or 30% carried interest in the Entrée/Oyu Tolgoi JV, has separately filed a claim with Mongolia’s Administrative Court. The company seeks a review of the tax authority’s valuation of the JV licences. Oyu Tolgoi LLC retains exclusive rights to build and operate infrastructure, as well as conduct exploration and mining in the licensed area. On December 19, 2025, the Temporary Oversight Committee presented a draft resolution to Parliament, though its contents have not yet been made public.
The hearings and legal actions highlight ongoing negotiations over Mongolia’s share in one of its largest mining projects. With multiple government bodies and international firms involved, the outcome will shape future operations at Oyu Tolgoi. Entrée Resources continues to push for clarity on financial and regulatory matters tied to its joint venture interests.
