Former MP Ts.Sedvaanchig has been appointed as CEO of state owned Erdenes Oyu Tolgoi LLC.
The suggestion for the new CEO of Erdenes Oyu Tolgoi was submitted by the Government and the decision to accept Ts.Sedvaanchig as CEO was reached by the Board of Directors.
The Government`s 34 percent stake in the Oyu Tolgoi project with Rio Tinto is registered in the company. Some MPs previously collected signatures and submitted a petition suggesting that the Mongolian Government should own 51 percent of interest in the Oyu Tolgoi project. MPs are urging for the reform Government to work on changing the Parliamentary decree on the investment agreement for Oyu Tolgoi in order to make changes to the agreement.
The new CEO of state owned Erdenes Oyu Tolgoi LLC is one of the MPs who advocated for changes to be made to the investment agreement while he was an MP.