Mongolia finally wrapped up a deal on Tuesday to develop one of the world’s biggest untapped copper and gold deposits, signing off on Rio Tinto (RTP-N174.02—-%) and Ivanhoe Mines’ (IVN-T13.51—-%) Oyu Tolgoi mine. The deal, made possible after the government repealed a windfall profits tax in late August, will allow work to begin on a project that will ultimately increase global copper supply by more than 2 per cent.
See http://www.theglobeandmail.com/report-on-business/rio-ivanhoe-ink-mine-deal-with-mongolia/article1313340/.
See also:
Friedland poised to snare Mongolian motherlode
http://www.theglobeandmail.com/globe-investor/friedland-poised-to-snare-mongolian-motherlode/article1312914/.