Mongolia woos back miners after investment slump - 309330 - 20: "Foreign direct investment into Mongolia dropped 17% to USD 3.9 billion in 2012 coinciding with a string of moves by the government that deterred investments in copper and coal.
Regulatory concerns peaked earlier this year when Rio Tinto threatened to delay the start up of the USD 6.2 billion Oyu Tolgoi copper and gold mine until it resolves differences with the government over their investment agreement.
Mr Ochirbat Chuluunbat deputy minister for economic development said that the government was confident of resolving the dispute with Rio within as little as several weeks.
Mineral rich Mongolia is also seeking to woo investors with a law that will make all new investments subject to legislation rather than governed by bilateral deals which might be challenged or reinterpreted by the parties at a later date."
'via Blog this'
