Mongolia to End Rio Tinto Mine Dispute

Reuters reported that the parliament of Mongolia supports the country’s prime minister’s plan to resolve a dispute with Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) regarding the expansion of the massive Oyu Tolgoi copper mine.

As quoted in the market news:

The proposal approved by parliament on Wednesday just before the Mongolian Lunar New Year says the government will move to ‘resolve underground investment issues’ and ‘boost development work’ by the second half of 2015, mining ministry spokesman Galsan Bodibilguun said.

Prime Minister Chimed Saikhanbileg is trying to revive foreign investment in large mining projects to bolster the economy, which has suffered from a slump in coal prices and exports and uncertainty over mining policies.

Click here for the full Reuters report