The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Workers prepare a mine site at Oyu Tolgoi in Mongolia.
Workers prepare a mine site at Oyu Tolgoi in Mongolia.
(Tom Miles/Reuters)

Mongolia seeks $130-million in taxes from Turquoise Hill

The Mongolian government slapped Turquoise Hill Resources with a $130-million bill for unpaid taxes Monday, signaling that that the resource-rich country will not be the one to blink first in a long-running spat over the lucrative Oyu Tolgoi copper mine in the southern Gobi desert.

Turquoise Hill’s shares are down 3.2 per cent as Mongolian authorities sent a strong message: they won’t back down as they seek a larger share of the profits from a mine that could potentially comprise a third of the Mongolian economy.