Mongolia has settled almost all of its outstanding tax issues with Rio Tinto over development of the giant Oyu Tolgoi copper mine and is confident that the remaining issues will be resolved, the country’s prime minister told Reuters
The partners spent years mired in a tussle over development of the Gobi Desert mine which is the country’s biggest foreign investment and is set to become the world’s fourth largest copper mine by 2030 as demand heats up for the metal key to the energy transition
A resolution to the outstanding tax issues would avoid an arbitration process and would signify the restoration of relations with one of Rio’s top partners that were at one stage so poor they threatened to derail the mine’s development
“In the past, we had more than 10 issues that we had to address with Rio Tinto on the Oyu Tolgoi project, but we have successfully resolved more than 90% of them,” Mongolian Prime Minister L
