Rio Tinto\u0027s Mongolian operation will be the world’s fourth\u002Dbiggest source of copper, churning out half a million tons a year. Read more.
But the difficult route to underground production at Oyu Tolgoi — the launch was once envisaged for 2015 — reflects the challenges in bringing on new supplies. One reason is mineral-rich nations like Mongolia increasingly demanding better terms from global mining companies. Oyu Tolgoi could add a third to the size of the Central Asian nation’s economy.
Mongolian leader Oyun-Erdene Luvsannamsrai, speaking at the underground opening ceremony, acknowledged many “hiccups” for the project. Difficult negotiations with Rio were driven by a desire to maximize benefit for the country’s people, he said.A 2021 agreement for Rio to write off US$2.4 billion of state debt was crucial for Stausholm — chief financial officer until he was appointed to the top job in late 2020 — to get to today’s juncture.
France Dernières Nouvelles, France Actualités
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Rio Tinto's prized $7 billion copper mine in Mongolia finally deliversRio Tinto\u0027s Mongolian operation will be the world’s fourth\u002Dbiggest source of copper, churning out half a million tons a year. Read more.
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