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Asia Today ISSN 1861-4604 Sunday, May 27, 2018

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Rio Tinto held up on Mongolian shipment

The Mongolian government owns the rest

Share on Facebook June 22, 2013, Reporter : BigNewsNetwork, Reader : 511

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The Rio Tinto mining company has had to delay a major copper mine shipment from Mongolia.

The company has cited lack of support from the government of Mongolia as its reason for holding back on the shipment, which was to have come from the Oyu Tolgoi mine, a huge Mongolian mine project.

Shipments, which were to have been sent on Friday, were put on hold following a request from the Mongolians.

In February, Rio had said it would not begin exporting the commodity until it could reach final agreements over royalties, costs, management fees and project financing.

Rio has not yet given a reason why the current shipments were put on hold.

Rio owns 66% of the mine with its partner company, Canada-listed Turquoise Hill Resources.

The Mongolian government owns the rest.

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