Mongolia cedes to Rio demands | Business Spectator: "Mongolia has appointed a veteran politician as the new head of the state-owned company that controls the government's stake in the huge Oyu Tolgoi copper and gold mine, in a move to appease its partner Rio Tinto PLC (RIO).
Rio Tinto, Oyu Tolgoi's operator and largest shareholder, last month postponed a $US5.1 billion underground expansion of mine and announced plans to lay off as many as 1,700 workers amid a dispute with the government over investments and management of the project. "
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