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Mongolia repeals windfall tax, paves way for Ivanhoe

ULAN BATOR, Aug 25 (Reuters) - Mongolia's parliament has repealed the windfall profits tax on copper and gold and passed revisions to three other laws that pave the way for Ivanhoe Mines Ltd IVN.TO to ink an investment deal for the Oyu Tolgoi copper Gold deposit, Ivanhoe and Mongolian media said on Tuesday.

“The votes today by overwhelming majorities of the Members present for the special session of the State Great Khural represent a significant step in Mongolia’s commitment to attract foreign investment in the development of the country’s mineral resources,” Ivanhoe president John Macken said. (Reporting by Danielle Mario, writing by Lucy Hornby, Editing by Peter Blackburn)

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