It is all over Mongolian media. You can check out Ministry of Economy and Development’s comments here. He’s unfortunately made it clear that Kharmagtai will be up for discussions on its inclusion as a strategic deposit.
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https://www.facebook.com/watch/?v=564714672774027
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“A proposal to include Kharmagtai in upcoming negotiations concerning strategic deposits will be made soon”, he said
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https://eguur.mn/538684/
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It means that Mongolian government will take 34% of Kharmagtai. How unfortunate!
People in Mongolia are fuming over this. Tons of angry comments on those articles – seems like they’re pushing for 34% of Kharmagtai, and politicians are rushing it.
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https://tovch.mn/n/1g2f - Check these comments!
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One thing they’re mad about is that Xanadu’s Kharmagtai reserve calculations aren’t even registered back in Mongolia’s Minireal Resource Agency. Now the Mining Ministry’s saying they’ll set up a working group and dig deeper into the project.
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https://www.facebook.com/watch/?v=8647502898664061
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With all these uncertainty, Xanadu’s management is 100% set on using a 4% royalty rate in their calculations – even though the actual rate is 19%, according to these articles. They won’t be able to move forward giving up 34% of Kharmagtii! And a ton of issues are gonna come up because of the lack of transparency and miscalculation.
How unfortunate!
(20min delay)