Mongolia Says Committed to Resolving Oyu Tolgoi Financing Delays
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Mongolia is committed to resolving issues delaying expansion of the $6.6 billion Oyu Tolgoi copper and gold mine, the government said in a statement after a Rio Tinto Group unit failed to arrange funding for their joint project.
“The Government of Mongolia is flexibly available to prioritize and continue the discussions on terms and conditions of the project financing separate from any other issues,” according to a press release issued today by Erdenes Oyu Tolgoi LLC, the state-owned company that holds 34 percent of the mine.