Rio Tinto Could Soon Resolve Issues with Mongolian Government

The UK telegraph reported today that Rio Tinto (NYSE:RIO) has said it is optimistic that it will finish negotiations with the Mongolian government over its underground copper mine in that country by this fall. According to the telegraph, a representative from Rio Tinto has said that the country’s ongoing disagreement with the miner has hurt Mongolia’s image as an investing partner so far.

As quoted in the publication:

Construction of the underground mine at Oyu Tolgoi, one of the world’s largest undeveloped copper deposits, was put on hold last year when the Mongolian government said financing had to be approved by parliament, because it was concerned that cost-over-runs would delay when the country would receive its share of profits.

Click here to read the full UK Telegraph article.