Representatives of Ivanhoe Mines Ltd.'s $3 billion Oyu Tolgoi project in Mongolia have held talks with the government there for the past two weeks to forge an investment agreement, but there is no clear timetable for progress.
Resources companies have been awaiting a solid investment framework for years to mine Mongolia's copper, gold, coal and uranium riches. Talks to forge an investment deal dragged particularly after Mongolia's government in 2006 announced it would seek a stake of up to 50% in strategic mining projects, as well as imposing a windfall tax on company profits from copper and gold production.
Ivanhoe Continues Talks With Mongolia on Mining Deal
Posted by Tamir 967 days ago (http://online.wsj.com)
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