Rio is not "stalling." The GOM issued that letter to Rio in a public forum (vice normal, confidential talks) as pure propaganda. OF COURSE they are ready for mine expansion. But it is the corrupt, inept GOM who is attempting to rewrite a contract to garner more profit and less expense. Rio is protecting our interests by not bending, as this would only open the door to yet another "re-do" later by the GOM.
The GOM is acting like a child by sending that public letter; as are the children who consider it out of context in this forum.
thats why i posted we need not unilateral stmt but a bilateral agreement betw rio & govt mongolia that does not provide for future escape loopholes for govt to exploit to detriment of rio/trq.
so i agree w/you. cannot trust GOM nor rio tinto as a trq retail s/h ,,, imo.
Last year the GOM cancelled many exploration licenses that were still in good standing and the previous expropriation of a uranium project with zero compensation went to international arbitration. I think that explains the drop in foreign investment more than the TRQ question. One problem now is that any agreement the GOM makes has to be seen as almost worthless. Unlike the GOM, Rio cannot go to the media and explain their side of the story, they have to sit quiet even though huge inaccuracies are being reported. Last year the GOM said that all will be resolved into year end 2013, but Rio was quiet, and we saw the correct view came from Rio.