Metso-Outotec merger moves forward as hurdles cleared

"Ideally the company should be broken up into a Chinese piece, a Turkish-listed piece and an 'other' piece."

The extension is for the miner's permits for emissions into the atmosphere and waste disposal into the tailings pond.

As fresh reports provided further evidence of a slowing Chinese economic and consequently increasing stock piles up at its ports.

The nation has successfully repatriated part of its gold holdings that had been frozen as part a number of sanctions imposed by the U.S. and other global powers over its nuclear program.

The company, which owns a gold project in Mongolia, is optimistic about the country's stance towards foreign mining investment over the coming years.

The value of the commodity has fallen by about 35% over the latest 12-month period, hitting Australia’s economy harder than expected.

Negotiations between the parties, however, are expected to continue over the summer.

The company, however, says it has not yet received any direct communication from Mongolia on the matter.

While details remain unknown, it is believed the fix would be launched via the Shanghai Gold Exchange, the world's biggest physical bullion exchange.