- Turquoise Hill (NYSE:TRQ) says it has filed a notice of dispute with Mongolia's government following a recent audit report which claimed unpaid taxes, penalties and disallowed entitlements connected with the initial development of the Oyu Tolgoi copper mine.
- TRQ says it has paid all taxes and charges required, and that it "strongly disagrees" with the audit report.
- Next comes a 60-day period during which a settlement could be negotiated; if that fails, the dispute could be referred to international arbitration , a process that could add to the often delayed Oyu Tolgoi project.
- Rio Tinto (RIO) owns 50.8% of TRQ.