According to Sydney 5 Moon 19 News reports that Rio Tinto ( Rio Tinto ) stated on Tuesday that it has reached an agreement with Mongolia regarding the Oyu Tolgoi copper-gold mine. (OyuTolgoi) An agreement has been reached on the development of the underground copper mine, which had been delayed for two years due to disputes over costs and taxes.

　　The Oyu Tolgoi copper-gold mine in Mongolia is the country’s largest single overseas investment project and has consistently been regarded as a leader in Mongolia’s outward foreign investment.

　　However, Rio Tinto and Mongolia have disagreed on tax issues as well as the construction costs for the second-phase underground mine.

　　The dispute between the two sides has delayed the project by two years, exacerbating the economic impact of falling commodity prices. As a result, Mongolia’s newly appointed prime minister is actively working to resolve the differences between the two sides.

　　In a statement, Rio Tinto said that the government of Mongolia and Turquoise Hill Resources ( Turquoise Hill Resources Rio Tinto has reached an agreement on shareholder issues and has also reached consensus on investment in the project.

　　 “ The Oyu Tolgoi copper-gold mine is a world-class copper-gold asset, and its subsequent development will have a significant impact on Mongolia’s economy. ” Mongolian Prime Minister Chimediin Saikhanbileg Said.

　　 “ There is no doubt that advancing the Oyu Tolgoi copper-gold mine project will help improve Mongolia’s investment climate. ”

　　Turquoise Hill Resources, a subsidiary of Rio Tinto, owns this project. 66% the equity, additionally 34% It is owned by the Mongolian government. Rio Tinto is the operator of this project, which is located in the Gobi Desert region near the border between Mongolia and China.

　　Deutsche Bank analyst Paul Young Point out, “ This is the best untapped growth project to date, and it’s also the best commodity. -- Copper. ”

　　The first-stage open-pit mine has already been... 2013 Year of production.

　　Before development, Rio Tinto stated that the project would require securing financing, conducting a feasibility study, and obtaining all necessary permits.

　　 “ The joint announcement released today reflects the remarkable leadership of all parties involved and paves the way for resuming underground mining operations, which is expected to deliver substantial returns to shareholders. ” Rio Tinto’s CEO for Copper and Coal Jean-Sébastien Jacques Stated in the declaration.

　　Rio Tinto has not provided an estimated timeline for concluding the final feasibility study on the underground mining project, nor has it indicated when it will begin underground copper production.

　　Analysts expect that this value... 50 The billion-dollar copper-gold mining project won't be ready until at least... 2019 Year or 2020 Commercial production will begin only next year.