– Memorandum of Understanding Signed –
Ulaanbaatar, Mongolia – Oyu Tolgoi LLC, a Mongolian mining company, is contributing to the education sector in a variety of ways. Within the framework of the said commitment, Oyu Tolgoi has signed a MOU with the Law School of the National University of Mongolia – a leading institute in legal education and legal studies in Mongolia.
Signing the MOU paved the way for cooperation between Oyu Tolgoi and the Law School in the areas of joint legal research and study as well as sponsorship of a variety of competitions among the law students. Moreover, the MOU was a milestone for the Law School to the extent that it promises internship opportunities for law students employed by Oyu Tolgoi. In addition, enrichment of library resources with new textbooks and publications will be part of the agreement.
“Being a company that is implementing a world-class mining project, Oyu Tolgoi has signed a Memorandum of Understanding with the Law School of the NUM, an institution with a 50 year history. The school is known as a high level university for legal education and prepares many skilled lawyers in Mongolia. We are pleased to have had an opportunity to contribute to the protection and development of key democratic values such as human rights and freedom” said Simon Bladen, General Manager of the Legal Department of Oyu Tolgoi LLC, during the signing of the MOU.
Commenting on the significance of the event, N. Lundendorj, Vice President of the Law School of the NUM, said “There is a growing trend today, that the major universities in the world tend to cooperate with industrial enterprises. The signing of the MOU with Oyu Tolgoi LLC opens a new page in the history of our university. We believe our cooperation is significant in the sense that it will facilitate joint research in minerals and mining-related laws, promotion of scientific works, and enhancement of student and teacher skills and knowledge. We are happy to have a partner to collaborate for this cause.”
During the ceremony, Oyu Tolgoi LLC handed over books and other educational materials to the Law School of the NUM as a first step in fulfilling the MOU.
About Oyu Tolgoi LLC (http://en.ot.mn/)
Oyu Tolgoi LLC is Mongolia's largest copper and gold mining company and is a strategic partnership between the Government of Mongolia (34 per cent stake), Ivanhoe Mines (66 per cent) and Rio Tinto. Rio Tinto is the major shareholder in Ivanhoe Mines and the manager of the Oyu Tolgoi project. In addition to dividends from its 34 per cent stake in Oyu Tolgoi, the Government of Mongolia will receive taxes and royalties.
Oyu Tolgoi, located in the Gobi desert in southern Mongolia, will be one of the largest and highest-grade copper and gold mines in the world. It is the largest project ever developed in Mongolia, requiring a capital investment for phase 1 of more than US$6 billion.
Oyu Tolgoi is committed to contributing to a sustainable future for Mongolia. At least 9 out of 10 employees will be Mongolian once the mine is in production and Oyu Tolgoi is investing US$58 million dollars (78 billion MNT) in training and education and an additional US$27 million dollars (36 billion MNT) in the Workforce Employment Project designed to help address the general skills shortage in Mongolia
Oyu Tolgoi's key priorities are the health and safety of employees, best-practice environmental management, contributing to sustainable communities and always doing business with integrity, for the benefit of all the project's shareholders and the people of Mongolia.
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