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Mongolia May Revise Biggest Coal, Copper Project Agreements
Sep. 21, 2011 10:47AM PST
Base Metals Investing Bloomberg reports that Mongolia plans to revise ownership accords with Rio Tinto Group (NYSE:RIO) and other foreign companies for the nation’s two biggest mineral projects ahead of parliamentary elections next year.
Bloomberg reports that Mongolia plans to revise ownership accords with Rio Tinto Group (NYSE:RIO) and other foreign companies for the nation’s two biggest mineral projects ahead of parliamentary elections next year.
The market news is quoted as saying:
Mongolia will also seek to revise the investment terms for the Oyu Tolgoi copper project that’s part-owned by Rio, Finance Minister Sangajav Bayartsogt told News.mn portal in an interview published yesterday.
Revision talks may delay the 2013 proposed start-up of the $6 billion Oyu Tolgoi copper and gold project, on which Rio’s partner, Ivanhoe Mines Ltd., spent more than six years negotiating an investment accord.
