Economics
Mongolia Eager for Oyu Tolgoi Deal by Year End, Official Says
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Mongolia’s prime minister is pushing to end the deadlock with Rio Tinto Group over the expansion of the Oyu Tolgoi copper and gold mine by the end of this year, according to an industry official of the landlocked nation.
Prime Minister Altankhuyag Norov sent an order to solve the dispute by the end of this year to government departments including the Economic Development Ministry and the Mining Ministry, according to Khorloo Baatarkhuu, a counselor of Mongolian National Mining Association, who says he’s read the document from the premier’s office. Rio put the $5.4 billion underground expansion at the Oyu Tolgoi mine, the largest foreign investment in Mongolia, on hold in July 2013.