Mongolia counts cost of mine delay as RioTinto deadline passes

Posted on April 6, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

A dispute between the Mongolian government and its biggest foreign investor over the expansion of one of the world’s largest copper mines has added to concerns over the country’s faltering economy.

A financing deadline to expand the vast Oyu Tolgoi copper project passed last week without an agreement between developer Rio Tinto and the government in Ulan Bator. The delay is the latest twist in a long-running saga that has become a test for the investment climate in the country.