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Mongolia seeks greater tax revenue from Rio copper mine expansion -source

TORONTO, Feb 8 (Reuters) - Mongolia wants more tax revenue under a revised deal to expand Rio Tinto’s Oyu Tolgoi copper-gold mine rather than a larger ownership stake in the project, a person with direct knowledge of the government’s thinking told Reuters on Monday, as the two sides bid to resolve a long-running standoff over the development.

On Sunday, the Financial Times reported Ulaanbaatar is seeking agreement with Rio to terminate a deal to expand the mine and replace it with a new pact that offers better terms. “We obviously would like to have more tax revenues,” the person said, declining to be identified owing to the sensitivity of the issue. (Reporting by Jeff Lewis Editing by Chris Reese)

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