Rio OKs temporary budget

The global mine operator said it hadn't reached an agreement with Mongolia to resolve cost issues with the $6.2 bil Oyu Tolgoi copper and gold mine. But Rio Tinto (RIO) and the Mongolian gov't agreed on a temporary budget for the mine. The mine is expected to account for a third of the country's GDP, and Rio wants the mine at full operation as it tries to expand outside its large iron ore investments. Shares fell 3.5% to 51.75.