Rio Tinto Warns Mongolia to Honor Agreements -FT

May 22, 2018 / www.4-traders.com / Article Link

--Rio Tinto PLC (RIO.LN) has warned Mongolia not to tamper with contracts that concern its investment in the Oyu Tolgoi copper mine in the Gobi desert, the Financial Times reports.

--The Financial Times reports that the head of Rio Tinto's copper business, Arnaud Soirat, said at the Mongolia Economic Forum, that the country has the makings of a successful resource nation, but only if it honors agreements around tax and royalty payments.

--Earlier this year the hard-up government of Mongolia hit Rio Tinto with a $155 million tax bill, which the mining company said it will take to international arbitration if an agreement can't be reached, the Financial Times reports.

Full story: https://on.ft.com/2IAI7mu

Write to Barcelona editors at [email protected]

Recent News

Bullish bankers and bearish institutions split on gold forecasts

July 01, 2024 / www.canadianminingreport.com

Gold stocks down on flat metal price and mixed equities

July 01, 2024 / www.canadianminingreport.com

Snowline Gold reports Initial Resource Estimate

June 24, 2024 / www.canadianminingreport.com

Inflation subsiding and rate cuts starting internationally

June 24, 2024 / www.canadianminingreport.com

Inflation rebound continues to reverse

June 17, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok