Mongolia revokes key Oyu Tolgoi mine licenses - MarketWatch: "Mongolia has revoked the licenses for a key portion of the massive Oyu Tolgoi copper and gold project amid a dispute between Rio Tinto PLC RIO +1.13% and the country's government over costs, revenue and taxes, the Financial Times reported on its website Wednesday.
The newspaper said the government has annulled the mining licenses held by Canada-listed Entree Gold Ltd. EGI -3.18% for the areas immediately surrounding the Oyu Tolgoi license. Rio Tinto, which operates the Oyu Tolgoi development, is meeting with the government this week to settle a dispute before funding runs out for the US$6.6 billion mine, the FT reported."
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