Mongolia lawmakers urge talks to rework Oyu Tolgoi deal - 2825: "Reuters reported that an influential group of Mongolian backbench lawmakers has urged Prime Minister Norov Altanhuyag to seek talks to trim mining giant Rio Tinto's stake in the USD 13 billion Oyu Tolgoi copper and gold project in the country's South Gobi region.
Elections in June ushered in a coalition government under which the major risk for mining firms, the engines of economic growth, threatens to be the influence of lawmakers who want Mongolia to have greater control of its resources.
Oyu Tolgoi, located 80 kilometers north of Mongolia's Chinese border is expected to become one of the world's three largest copper and gold mines when it reaches full production in 2018. The deposit contains an estimated 41 billion pounds of copper and 21 million ounces of gold. It is anticipated that revenue from the mine could boost Mongolia's GDP by one third."
'via Blog this'
