The Australian: Warning on Mongolia’s minerals regime

The head of Rio Tinto in Mongolia has issued a stern warning to the local politicians agitating for a greater share of revenue from the country’s emerging mining industry, saying that Mongolia’s economic transformation could stall on the back of any further legislative uncertainty. A group of 20 members of Mongolia’s parliament has been petitioning for another revision of the country’s minerals regime. During the Discover Mongolia forum in Ulan Bator, Cameron McRae, Rio Tinto’s country director and chief executive of the $US7 billion ($6.6bn) Oyu Tolgoi copper-gold deposit, said the Oyu Tolgoi investment agreement secured with the government in 2009 had demonstrated that Mongolia was open for business. To read the full article, click hereWarning on Mongolia’s minerals regime

This entry was posted in Mongolia News. Bookmark the permalink.

Comments are closed.