According to Media Office of Government of Mongolia on August 28,2010 “Prime Minister of Mongolia S.Batbold got introduced to OT on August,25,2010. Major productive developments have undergone here. In particular, mine construction has started. Activities of concentrator foundation, mixing plant, foundations of 35kwt high voltage, residential building of 4000 workers of the concentrator plant, shaft No2 have started. Now 3600 Mongolian workers work at OT and number of Mongolian suppliers have reached about 2000.

Minister of Education Yo.Otgonbayar have introduced that 57 million USD is to be spent on TVET training from OT project. Moreover, 200 students are be financed from the project. Enrollment of first 1000 from 3300 Mongolian workers has been finished and their training will start Oct.1,2010.Rules on admission of next 2300 workers are being prepared with Labor Ministry. Their registration will start January, 1, 2010. Soon quotas will be issued for provinces, capital, districts and attention is being paid to duty of openness and transparency assigned by the Prime Minister.

Prime Minister has concluded:

“Government has duty to have Mongolian participation or Mongolian engineers and technicians to participate fully and get them even more experienced. When mine starts, the opportunity for Mongolians will reach not less than 90%. We see that there is a need to organize many work in this field by the Government.

We have great many opportunities before us. We think that there must be boost in activities and real work must proceed. We can examine what is not working and discuss it.

We saw OT project progress on site. Major productive development is going on and they are accomplishing not an easy job. We saw that goal of opening mine on time can be achieved.”

President and CEO of OT LLC Keith Marshall has said that although there are few difficulties in construction and paperwork we can overcome those. Concentrator plant will be finished in two years. After plant is finished open pit will be introduced into operation. Six month of preparation and soil stripping is required for that.

Prime Minister has advised to OT project management to urgently train and get highly skilled Mongolian workers experienced, ensure openness and transparency and select OT suppliers by tender and work paying attention to priority for national enterprises.

OT workers on average get from 300 thousand to one million tugrugs. Workers noted that a Mongolian youth called Uuriintsolmon achieved major accomplishment having learned to operate alone 1.3 million dollar machine.”

Frontier Securities views that Government of Mongolia and, in particular the Prime Minister, have expressed firm stance of the Government’s support for major productive development, most advanced of which is OT.

According to Media Office of Government of Mongolia on August 27,2010 in a speech in a townhall meeting in capital of Umnugobi (Southgobi) province of Mongolia,town of Dalanzadgad, Prime Minister has said:

“As a result of consistent work of the Government OT IA became effective last April. Today we are confident that it was not in vain. We saw OT progress on site, work of this major project that in total is to require 5,1 billion USD is undergoing actively and one third of the total investment has been already invested in Mongolia.

If work goes on with this kind of energy it is likely that after three years mining and industrial complex will be fully constructed and finished. There is research and calculations that at that time there will be three times more production than Erdenet. Think all that our Erdenet produces on its own about 40% of our GDP. Everyone can imagine what kind of productive development with great future has been started.

The reality is that 2600 of 3500 people there are Mongolian people. In a word, so many new jobs and through them that many family members are directly receiving benefits. It can be said that, on a whole, all Mongolian citizens have started to receive share and bounty from this deposit.”

PM visits ot,pledges “ productive cooperation” with investors“by a way of fulfilling duties of ia”, “consistent work till seeing final results of ot p

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