Currently viewing Global edition

Mongolia gets its way on Oyu Tolgoi

Rio Tinto and its listed Canadian subsidiary Turquoise Hill have bowed to the inevitable by wiping the US$2.3 billion in loans owed by Mongolia on its 34% share of the expanding Oyu Tolgoi copper-gold project in the South Gobi, writes Barry FitzGerald.

Mongolia gets its way on Oyu Tolgoi Mongolia gets its way on Oyu Tolgoi Mongolia gets its way on Oyu Tolgoi Mongolia gets its way on Oyu Tolgoi Mongolia gets its way on Oyu Tolgoi

The Oyu Tolgoi copper development in Mongolia's South Gobi desert

Mongolia has pretty much been agitating for a new deal on OT and its expansion underground at a cost of $5.3 billion, but now more like $7 billion, since late 2014.

Most read Mine Risk Management