stream.wsj.com August 29, 2013
Ulaanbaatar Considers Lifting Restrictions as Outside Investment in Resources Drops
Mongolia is moving toward scrapping a law restricting foreign ownership of mines and other strategic assets as it struggles to reverse the effects of a global commodity slump.
Rio Tinto’s Oyu Tolgoi mine was acquired before the foreign investment law was enacted, but the miner and Mongolia are in dispute over the project.
Mongolia is moving toward scrapping a year-old law restricting foreign ownership of what the country deems strategic assets, including mines, as it struggles to reverse the effects of resource nationalism and a global commodity slump. The proposal, which a senior official said requires passage by Mongolia’s Parliament—with a vote likely in late December—underscores the shift […]