Mongolia gold mine at impasse

September 06 03:30 2013 Print This Article

www.vancouversun.com  September 4, 2013

Rio Tinto Group’s Oyu Tolgoi venture, a $6.6-billion copper and gold project in Mongolia, is seeking to break an impasse with the country’s government over financing for the mine. Progress at Oyu Tolgoi has stalled as the partners discuss how to finance a $5-billion expansion. Mongolia, which controls 34 per cent, claims cost overruns are delaying future dividends and wants the mine’s underground extension funded with revenue from concentrate sales until disagreements are resolved. The dispute led to the lay off of about 1,700 workers last month.

Read more: http://www.vancouversun.com/business/Mongolia+gold+mine+impasse/8866892/story.html#ixzz2e50M4716

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Saranchimeg Enkhee
Saranchimeg Enkhee

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