The Mongolian government would continue talks with Anglo-Australian mining group Rio Tinto over the development of a giant gold-copper deposit, local media reported Friday.

The Mongolian government made the decision on the Oyu Tolgoi deposit in the South Gobi region at a shareholders meeting Thursday of Oyu Tolgoi LLC, a joint venture between it and Rio Tinto, the report said.

The Mongolian government approved operational funding of the joint venture until March, provided Rio Tinto clarify causes for increased initial investment in the first phase of the mine development, it said.

A dispute over daily management of Oyu Tolgoi has escalated in recent months.

Rio Tinto wants to approve the 2013 budget of the joint venture, while the Mongolian government claims the initial investment of the Oyu Tolgoi project has exceeded the budget.

Mongolia, which holds 34 percent of Oyu Tolgoi LLC, has long hoped to increase its stake in the development of the giant deposit in return for more economic benefits. Endi

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