After years of negotiations, the Mongolian Government has drawn up an Investment Agreement for Rio Tinto and Ivanhoe Mines to exploit Oyu Tolgoi, one of the world’s richest copper and gold deposits. On 6 October, 2009 the Investment Agreement, the Shareholders’ Agreement and the Advance Payment Agreement were signed at State House in Ulaanbaatar. The Investment Agreement establishing a legal, stable, long-term tax and regulatory environment to build and operate the Oyu Tolgoi mining complex, will be valid for 30 years and can be extended for a further 20 years. This deposit has 2.7 billion tonne of ore containing 25.4 million tonne of copper, 1,028 tonne of gold and 81,600 tonne of molybdenum resources according to its registration at the Mongolian Professional Mineral Resources Commission. As per agreement, Mongolia will have 53 percent of the Oyu-Tolgoi mine's profits at nominal value.

Mongolian Government, Ivanhoe Mines and Rio Tinto offiicials at the signing ceremony