daytrading march 1 afternoon, page-96

Rio wrangles with Mongolia but mine on track

Rio Tinto has failed to resolve cost disputes with Mongolia over the $US6.2 billion ($6.1 billion) Oyu Tolgoi copper and gold mine in talks this week but the two sides agreed on a temporary budget to keep the mine on track to start producing in June.

Oyu Tolgoi is crucial to both sides. At full tilt, it will account for nearly a third of Mongolia's economy, while Rio Tinto is dependent on the mine to drive growth outside of its massive iron ore business.

Read more: http://www.theage.com.au/business/mining-and-resources/rio-wrangles-with-mongolia-but-mine-on-track-20130301-2fb1r.html#ixzz2MGBbCTlQ