The signing of the investment agreement and the associated shareholders agreement with the Mongolian Government means Rio Tinto and Canada's Ivanhoe Mines can now proceed with the Oyu Tolgoi copper and gold project.

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"This was a complex, intense deal, with many stakeholders and with longrunning negotiations -often through translators. The commercial arrangements had to address the desired stable tax and operating environment for the project, and take into account the local legal landscape," Bogdanich said.

Company info:

Oyu Tolgoi is the world's largest undeveloped copper and gold resource, and is located in the South Gobi region of Mongolia. Production at Oyu Tolgoi is expected to begin around 2013.