Mongolia OKs sales from Rio Tinto mine

Buyers of copper from Rio Tinto Group's $6.6-billion Oyu Tolgoi mine venture in Mongolia have been approved to collect their orders, ending a four-month wait that had stalled sales from the project. "The withdrawal of concentrate from the warehouse by customers is expected to ramp up quickly," Vancouver-based Turquoise Hill Resources Ltd., 51 per cent-owned by Rio, said. The release of the concentrate will allow Oyu Tolgoi to start recording revenue, with the mine shipping production since July and receiving payments from customers. It comes as Rio and Mongolia continue talks to resolve differences that have stalled an expansion at the mine. Chinese buyers can now collect the concentrate, Turquoise Hill said.


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