Rio Tinto, Mongolia wrangle on Oyu Tolgoi costs but keep mine on track | Reuters: "Reuters) - Rio Tinto said on Friday it had failed to resolve cost disputes with Mongolia over the $6.2 billion Oyu Tolgoi copper and gold mine in talks this week but the two sides agreed on a temporary budget to keep the mine on track to start producing in June.
Rio Tinto's subsidiary Turquoise Hill Resources , which owns 66 percent of the project, said the two sides will continue talks through March. The Mongolian government owns the remaining stake in the project.
Oyu Tolgoi is crucial to both sides. At full tilt, it will account for nearly a third of Mongolia's economy, while Rio Tinto is dependent on the mine to drive growth outside of its massive iron ore business."
'via Blog this'
