Mongolia gold mine at impasse

September 06 03:30 2013 Print This Article  September 4, 2013

Rio Tinto Group’s Oyu Tolgoi venture, a $6.6-billion copper and gold project in Mongolia, is seeking to break an impasse with the country’s government over financing for the mine. Progress at Oyu Tolgoi has stalled as the partners discuss how to finance a $5-billion expansion. Mongolia, which controls 34 per cent, claims cost overruns are delaying future dividends and wants the mine’s underground extension funded with revenue from concentrate sales until disagreements are resolved. The dispute led to the lay off of about 1,700 workers last month.

Read more:

  Article "tagged" as:
view more articles

About Article Author

Saranchimeg Enkhee
Saranchimeg Enkhee

View More Articles
write a comment


No Comments Yet!

You can be the one to start a conversation.

Add a Comment

Your data will be safe! Your e-mail address will not be published. Also other data will not be shared with third person.
All fields are required.