Getty Images: Mongolia's Biggest Foreign Investment The Oyu Tolgoi Mine: "KHANBOGD-SOUTH GOBI DESERT, MONGOLIA - OCTOBER 8: Enkhnaraa ,2, looks out from her home located near the OyuTolgoi mine October 8, 2012 in the south Gobi desert, Khanbogd region, Mongolia. Her father is employed at the mining site. The Oyu Tolgoi (Mongolian for Turquoise Hill) copper and gold mine is a combined open pit and underground mining project. The site, discovered in 2001, is located approximately 550 km south of the Mongolian capital, Ulan-Batar in the South Gobi Desert. Turquoise Hill Resources (Formerly Ivanhoe Mines) and Rio Tinto signed a long-term comprehensive investment agreement with the Government of Mongolia in 2009 with the deal awarding Turquoise Hill Resources, whose majority shareholder is Rio Tinto, with a controlling 66 percent interest and The Mongolian Government with a 34 percent interest in the project. Rio Tinto provided a comprehensive financing package and assumed direct management of the project under an agreement with Ivanhoe."
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