Ulaanbaatar, /MONTSAME/ The Mongolian Government announced Wednesday that Oyu Tolgoi Investment Agreement took full legal effect following the fulfillment of necessary conditions.

Finance Minister S.Bayartsogt, Mineral Resources and Energy Minister D.Zorigt and Environment Minister L.Gansukh have announced at the press conference on March 31 that the government confirmed that the procedural and administrative conditions contained in the Investment Agreement had been satisfied within the require six-month period after the signing of the agreement on October 6, 2009. Parliament gave its approval in July 2009 for the government to conclude the Oyu Tolgoi Investment Agreement with Ivanhoe Mines and its strategic shareholder, Rio Tinto.

"The entry into force of the Investment Agreement as part of the coalition government action program to develop the largest mine in Mongolia's history at the world-class Oyu Tolgoi copper-gold deposit will allow this 'Centennial Development Project' to give a significant boost to the economic and financial development of Mongolia, create large-scale infrastructure projects and establish new urban centres and improve the livelihood of Mongolian families," the Mongolian Government underlined in connection with this important event.

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