Rio Tinto closer to striking a deal on Mongolia mine

Posted on March 5, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Signs that Rio Tinto is close to striking a deal with the Mongolian government to develop the second stage of the huge Oyu Tolgoi mine continue to mount, with an engineering contractor advertising for workers on what appears to be the famous copper and gold mine.

Progress on the $US6 billion second stage of Oyu Tolgoi – which arguably ranks as Rio’s most important growth project – has been frozen due to Rio’s inability to strike an investment agreement with the Mongolian government.