Rio Tinto Given Green Light from Mongolian Government to Proceed with Chinese Shipments from Oyu Tolgoi

Bloomberg reported that the Mongolian government has given Rio Tinto (NYSE:RIO) permission to start concentrate shipments from Oyu Tolgoi to China, after having been postponed twice.

As quoted in the Bloomberg report:

The two sides had yet to resolve a request by the government that Mongolian banks handle sales revenue from the mine, Gankhuyag told reporters at a press conference on June 28. Mongolia was also insisting that its representatives on Oyu Tolgoi’s board of directors see Rio Tinto’s sales contracts with Chinese buyers.

To view the whole Bloomberg report, click here.