RE:Mongolia ... Lost in translation, again. With the GOM unable to spin their position with nuance it appears that the main issue resvolves around the Phase II financing. It looks like the GOM wants RIO to get a better rate than the GOM can get for their Chinggis bond. They are being unrealistic in thinking they can float their bond around 5% while the market is offering RIO $4B in financing at around 6.5%. If that is the case then why doesn't the GOM finance the project themselves?
As they drag their feet and stall the project they are missing out on the multiplying effect the project will have on the Mongolian economy. If they are having cash flow problems then now is not the time to choke the Golden Goose. IMO