Episode 17: Mongolia Questions Rio Again

In this episode, we talk about recent hearings of Oyu Tolgoi mines and their licensing agreements that have sparked controversy and kicked off the parliament oversight hearing.

For the longest time, Mongolia has had a lovers-to-enemies relationship with Rio Tinto, the majority shareholder in the Oyu Tolgoi copper mine. Over the years, a trail of hearings, deals, and renegotiations has led some political figures to prison, while others (very few) emerged with elevated status. Yet regardless of who gained or lost, Mongolia has never been fully at ease with its largest foreign investment — the massive underground copper-gold project in the South Gobi.

Now, a new controversy has entered the picture. A third company, Entrée Resources, has laid claim to a share of the project, and its recent arbitration victory over licensing rights became the catalyst for the latest parliamentary hearings. In this episode, we ask: were these hearings a necessary, or political theatre that risks scaring off future investors?

Pocketcast | Apple Podcasts | Spotify

42min

Hosts: Anand, Dolgion, Julian

Date Recorded: Dec 29 2025

Date Released: Jan 7 2026

Keywords: mininig | Oyu Tolgoi | government

Show notes:

• Zorig Bat-Erdene on Oyu Tolgoi hearings for Mongolia Focus

• Julian in 2022 on elements in a more comprehensive analysis of Oyu Tolgoi agreements