Don Cayo: Mongolia, Rio Tinto both have reasons to settle Turquoise Hill dispute: "Vancouver — A cost overrun of a couple of billion bucks at Oyu Tolgoi (Turquoise Hill), Mongolia’s new mega-mine, is no doubt significant even to a big company like Rio Tinto with sales last year topping $50 billion.
But to a “little” country like Mongolia — which may have a land mass about twice the size of B.C., but has barely more than half the number of people and a much smaller fraction of our wealth — it’s a staggeringly large sum. It accounts for fully a fifth of last year’s GDP — in relative Canadian terms, the equivalent of about $350 billion.
Which goes a long way to explain the tension between the company, a two-thirds partner in Vancouver-based Turquoise Hill Resources, which owns the just-opened world’s largest copper mine in remote Mongolia, and the country, which has a 34-per-cent stake."
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