Rio Tinto Delays Oyu Tolgoi Expansion; Awaits Mongolia OK - WSJ.com: "LONDON--Mining giant Rio Tinto PLC (RIO) said Monday it is delaying the $5.1 billion underground expansion of the massive Mongolian Oyu Tolgoi gold and copper mine after the Mongolian government said its parliament would have to approve the provisional financing for the project when it returns from summer recess.
Rio Tinto and the government of Mongolia have been trying to iron out their differences over the future development of the project since last year. The Mongolian government wants to ensure it reaps adequate returns from the project in a timely fashion after Rio Tinto raised the cost of developing the mine. Rio Tinto wants to make sure it earns an adequate return after investing billions of dollars into the project."
'via Blog this'
