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Rio goes for Gobi gold

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Rio goes for Gobi gold

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Australia’s Rio Tinto is to go ahead with a multibillion euro plan to extract copper and gold from one of the world’s biggest untapped deposits under Mongolia’s Gobi desert.

The agreement comes after six years of talks with the Mongolian government which recently agreed to scrap a windfall profits tax on Rio making the project more viable. Rio is in partnership with Canada’s Ivanhoe Mines.