Mongolia confident of resolving Oyu Tolgoi battle by December 31 | Reuters: "Rio Tinto started exporting from a $6.2 billion open pit mine at Oyu Tolgoi in July but halted work on Phase 2, an underground mine, in August and threatened to cut up to 1,700 jobs as the government refused to approve financing terms for the project.
The expansion is vital to Mongolia as it is expected to boost the economy by a third by 2020 and is key to Rio's effort to ease its dependence on iron ore. Rio's Turquoise Hill Resources Ltd (TRQ.TO) unit owns a 66 percent stake in the mine."
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