Mongolia pushes Rio for more concessions in $7bn mine talks

ULAANBAATAR -- The Mongolian government is seeking further concessions from Australian mining company Rio Tinto after it proposed new terms for financing the $6.75 billion underground expansion of the vast Oyu Tolgoi copper mine.

"Mongolia wants Rio to clear Mongolia's debt," said Prime Minister Oyun-Erdene Luvsannamsrai on Monday, ahead of a meeting with company officials later in the week, insisting the company should shoulder responsibility for delays and cost increases with the project.