Oyu Tolgoi Row Shouldn’t Stall $4 Billion Funding, Director Says

Turquoise Hill Resources Ltd.’s tax dispute with Mongolia shouldn’t derail $4 billion of project financing to expand the Oyu Tolgoi copper mine part owned by Rio Tinto Group, a local director at the resource’s operator said.

“Don’t mix the political importance of the project with this tax audit issue,” Ganbold Davaadorj, a director for Oyu Tolgoi LLC, said yesterday by phone from Ulaanbaatar. The “tax authority report is one thing and importance of investment in the project is a completely different thing.”