Rio Says Mongolian Project’s Start Depends on End to Dispute
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Rio Tinto Group, the world’s second-largest mining company, said its $6.6 billion Oyu Tolgoi copper mine in Mongolia won’t start until disagreements with the government are resolved.
“A number of substantive issues have recently been raised by the government of Mongolia, including the implementation of the investment and shareholder agreements and project finance,” London-based Rio said today in a statement. “Subject to the resolution of these issues, first commercial production from Oyu Tolgoi is scheduled to commence by the end of June 2013.”