Source: Monsters and Critics                           Date: 12 october, 2011

Prime Minister S. Batbold said Parliament will not pursue amendments to its 2009 investment agreement. The comments were intended to offer relief to investors worried about the climate for business in Mongolia.'We respect the agreement,' said Batbold. There is no intention by the government of Mongolia to damage the completion of this important project for Mongolia.”The Mongolian government gave up its demand for a larger share of the process from the Oyu Tolgoi copper mine. The deal is with foreign investors Rio Tinto and Ivanhoe Mines, which have rejected a retrospective increase in the government's stake from 34 to 50 percent. Batbold said Mongolia is a democracy and there were calls for a larger state share in the exploitation of minerals. The prime minister said the government had to deal with these demands.Although Parliament can voice its concerns and object, it does not mean government can change the agreement, Batbold said.