Boroo Pte. Ltd. (“Boroo” or the “Company”) has entered into a subscription agreement (the "Subscription Agreement") with PricewaterhouseCoopers Inc. as the Court-appointed receiver and manager (the “Receiver”) of Victoria Gold Corp. (“Victoria”), pursuant to which Boroo’s wholly-owned subsidiary, Gatsuurt Mining Inc. (the “Investor”), would become the sole shareholder of Victoria (the “Transaction”).
By establishing the "Chinggis Khaan Sovereign Wealth Fund," Mongolia has taken the first step toward addressing this question at the institutional level.
Mongolia's copper concentrate exports are expected to reach a record high of nearly $10 billion this year. At the same time, Oyu Tolgoi's tax and fee payments are expected to exceed $1 billion for the first time.