Headline Story | equities.com: "Despite recent assurances from the Mongolian Foreign Minister that the government would not seek to re-open the Oyu Tolgoi Investment Agreement, on October 15, 2012, Turquoise Hill Resources Ltd. ("Turquoise Hill") advised that the Mongolian Minister of Mines had requested the parties renegotiate the landmark agreement. Rio Tinto, Turquoise Hill and Oyu Tolgoi LLC have rejected the request, stating that the Investment Agreement provides a stable legal framework and is a legally-binding document.
On October 9, 2012, Turquoise Hill provided an update which confirmed that Phase 1 construction at Oyu Tolgoi is essentially complete, and negotiations on a power purchase agreement with Chinese authorities are actively progressing. First ore is expected to be processed through the concentrator within six weeks of conclusion of the power agreement."
'via Blog this'
