Mongolian Mining License Transfer Update Stalls Project Development
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
A CEO provided an update on the efforts to transfer the Shivee Tolgoi and Javkhlant mining licenses in Mongolia to the company’s joint venture partner, Oyu Tolgoi LLC. The transfer process is continuing while discussions with the Government Working Group and Oyu Tolgoi project stakeholders regarding State participation are ongoing. The licenses must be transferred to Oyu Tolgoi LLC for underground development and extraction activities on the Shivee Tolgoi mining license to proceed.
From thewhig.com
Why it matters
The transfer of the licenses is required for core mining development to move forward. The company noted that transfer tax must be paid according to Mongolian law, and the license holder is responsible for calculating the license value.
From thewhig.com
Who's involved
- MongoliaJurisdiction where the mining licenses are located
- Chris AdamsPresident and CEO who provided the update
- Rio Tinto (Canada)Company flagged as potentially affected by the stalled license transfer
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Rio Tinto (Canada)Speculative
Rio Tinto (Canada) might face delays in core project development due to the stalled license transfer.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Delayed Mongolian copper extraction may impact China's supply stabilityDelayed Mongolian copper extraction may impact China's supply stabilityPossible
- Rio Tinto's Oyu Tolgoi project may face delays over license transferRio Tinto's Oyu Tolgoi project may face delays due to stalled license transferPossible