COPPER MINES AND MINING – GOVERNMENT POLICY – MONGOLIA

Mongolia flags Rio mine exit

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Original article by Matt Chambers
The Australian – Page: 21 : 6-Feb-15

New Mongolian Prime Minister Saikhanbileg Chimed has signalled a changed approach that may benefit Australian-listed resources group Rio Tinto. It is the parent of Canada-based Turquoise Hill Resources, which in turn holds two thirds of the major Oyu Tolgoi gold and copper mine in Mongolia. A drawn-out dispute over the cost of an underground expansion with the Government may now be resolved, as the state is ready to divest most or all of its 34% stake. Rio would gain full control, but also pay increased royalties and take on more of the upgrade’s cost of $US5bn ($A6.4bn)

CORPORATES
RIO TINTO LIMITED – ASX RIO, TURQUOISE HILL RESOURCES LIMITED, OYU TOLGOI LLC

Rio moves to solve Mongolian standoff

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Original article by Matt Chambers
The Australian – Page: 24 : 27-Jan-15

Australian-listed resources group Rio Tinto has for some time tried to gain approval for an expansion to underground mining at the Oyu Tolgoi copper and gold operation in Mongolia. Rio owns the majority of Turquoise Hill Resources, which in turn holds two thirds of the asset while the Mongolian Government has the rest. It has now emerged that Rio is offering the Government an increased royalty take, worth $US1.6bn ($A2bn), in order to bring the negotiations to a speedy conclusion

CORPORATES
RIO TINTO LIMITED – ASX RIO, TURQUOISE HILL RESOURCES LIMITED, OYU TOLGOI LLC