(Reuters) - Proposals made to the Mongolian government by global mining giant Rio Tinto last November to restart the long-delayed Oyu Tolgoi copper mine were the firm's "best and final offer" and won't be changed, Rio's chief executive said.
Rio submitted the proposals to resolve some outstanding issues, including a $127 million tax claim that has already been cut to $30 million as well as the approval of a $4 billion project financing package to pay for phase-two construction.
Sam Walsh told Reuters in an interview in Ulan Bator on Saturday ahead of his visit to the mine that the firm was "not looking for special treatment" but wanted more certainty and clarity from Mongolia.
Walsh said the firm would be willing to go to international arbitration to resolve the tax dispute, but said it was not expected to affect current phase-one production at the mine.
Rio Tinto's Turquoise Hill Resources owns 66 percent of the $6.5 billion Oyu Tolgoi, with the Mongolian government holding the remainder. Rio is also in charge of running and developing the project, which is located in the Gobi desert close to Mongolia's border withChina. (Reporting by Terrence Edwards; Editing by Kim Coghill)
Source:Reuters
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