Rio Rejects Mongolia Request to Renegotiate Copper Mine Deal - Bloomberg: "The Minister of Mining sent a letter requesting amendment of the investment agreement that became effective in March 2010, Vancouver-based Turquoise Hill Resources Ltd. (TRQ), Rio’s partner in the Oyu Tolgoi copper and gold mine, said yesterday in a statement. “Rio Tinto is fully aligned with Turquoise Hill’s position,” said Illtud Harri, a Rio spokesman. London-based Rio owns 51 percent of Turquoise Hill, formerly Ivanhoe Mines Ltd.
Mongolia’s government said last year it wanted to boost its stake in Oyu Tolgoi to 50 percent from 34 percent as well as make changes to royalty payments. Turquoise Hill owns 66 percent of the project in southern Mongolia, with first output expected in the first half of 2013."
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Mongolia’s government said last year it wanted to boost its stake in Oyu Tolgoi to 50 percent from 34 percent as well as make changes to royalty payments. Turquoise Hill owns 66 percent of the project in southern Mongolia, with first output expected in the first half of 2013."
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