Recent move of Oyu Tolgoi
Shares in Turquoise Hill Resources (TSE:TRQ) gained sharply last week after unconfirmed reports that Mongolian authorities have slashed the amount of tax claimed in a dispute over the Oyu Tolgoi mine.
Bloomberg reports the National Tax Dispute Settlement Council has reduced the tax claim on the $6 billion project to about $30 million from around $130 million.
The cuts haven't been made public and Mongolia is waiting for a formal response from Rio Tinto, ac-cording to sources.
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