Mongolia Said to Cut Tax Claim to Restart Mine Expansion
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Mongolia has cut the amount of tax it’s claiming from Rio Tinto Group in a bid to revive the $4 billion expansion of the Oyu Tolgoi copper and gold mine, people familiar with the situation said.
The National Tax Dispute Settlement Council has slashed the tax claim on the project to about $30 million from around $130 million, said two people who asked not to be named because the revised amount hasn’t been made public. Mongolia is waiting for a formal response from London-based Rio, the people said.