Turquoise Hill Resources, Ltd. (Ivanhoe Mines LTD) (TRQ)

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Mongolia Said to Cut Tax Claim in Bid Revive Rio Mine
By Michael Kohn and Christopher Donville Sep 12, 2014 1:16 PM PT
Excerpt:
Conclusion of the tax dispute would be “very positive” and may allow discussions on those issues to restart, Tony Robson, a London-based analyst at BMO Capital Markets, said today in a note to clients.

In June, Mongolia’s Tax Authority claimed Oyu Tolgoi LLC, the mine’s operating company, had unpaid taxes, penalties and disallowed entitlements. Turquoise Hill Resources Ltd. (TRQ), the Rio unit that controls the mine, said it paid all taxes and charges as required under its accord with the government.

Recent “more positive” statements by the Mongolian government and senior politicians are “probably driven by collapsing foreign direct investment and a weakening currency,” Robson said in the note.
http://www.bloomberg.com/news/2014-09-12/mongolia-said-to-cut-tax-claim-in-bid-revive-rio-mine.html