The impasse between Rio Tinto and Mongolia over the Oyu Tolgoi copper and gold project will be addressed during the upcoming parliamentary session in Mongolia.

Mongolia's Minister for Foreign Affairs Bold Luvsanvandan told Reuters that the two sides will come together during the three-month session.
Rio Tinto has warned that lender commitments on existing project finance arrangements expire.

The company has warned the finance agreement is due to expire March 31, after having been extended last year by lenders, which include International Finance Corp and European Bank for Reconstruction and Development.

A major hurdle to getting Mongolia's largest foreign investment project back on track has been $4 billion in financing
There is also disagreement over compensation for cost overruns from an earlier stage of development, Reuters reported.

Rio Tinto booked a $1.49 billion writedown post-tax on Oyu Tolgoi in its 2013 results, largely due to the delay in expanding the mine underground.

It has also warned investors to brace for a further $800 million writedown unless development work resumes after being halted in August.
Rio Tinto holds majority control of Oyu Tolgoi via its 50.8 percent interest in Canada's Turquoise Hill, which in turns owns 66 percent of Oyu Tolgoi. The Mongolian government holds the remaining 34 percent stake.

The Parliamentary session is scheduled to run from April 5 to early July, according to the minister.