Mongolia, Rio to Meet Again This Month on Oyu Tolgoi Concern

Rio Tinto Group will resume talks with Mongolia this month to resolve concerns that spending at their jointly owned Oyu Tolgoi mining project is overshooting and the country isn’t benefiting enough from the development.

Shareholders met in Ulan Bator yesterday to discuss outstanding issues surrounding the gold and copper venture. For the government, these include the cost, furthering Mongolian participation in its management and increasing the number of local companies that can benefit from the project, including the use of a Mongolian bank, it said in a statement.