Rio Tinto ready to cut rates on loans to Mongolia for Oyu Tolgoi development

Mining News Pro - Global miner Rio Tinto is willing to cut interest rates on loans to the Mongolian government, given to fund its share of the construction costs at the Oyu Tolgoi copper/gold mine, the Financial Times reported on Monday.

Rio Tinto mismanagement caused cost overrun at Mongolian mine

Mining News Pro - An expert group reviewing the cause of a $1.4 billion cost overrun at a Mongolian mine run by Rio Tinto said it was caused by the miner’s mismanagement, the Wall Street Journal reported on Monday, citing a report.

Mongolia threatens to cancel Oyu Tolgoi investment agreement

Mining News Pro - The Mongolian government has threatened to declare the 2009 Oyu Tolgoi mine investment agreement void if an international tax arbitration is not dismissed.

Rio Tinto, Mongolia reach new Oyu Tolgoi expansion plan deal

Mining News Pro - Rio Tinto and the Mongolian government are said to have reached a new agreement governing the $6.75 billion expansion of the vast Oyu Tolgoi copper-gold mine in the Gobi Desert.

Governments from Mongolia to Mali seek to reopen mining deals

Mining News Pro - Some resource-rich developing countries are seeking to rewrite mining contracts and accelerate dividend payouts, which can take years to materialize under deals that experts said are tilted in companies` favor.

Mongolia asks Rio Tinto to mutually cancel Oyu Tolgoi deal

Mining News Pro - Mongolia’s government is said to be actively seeking to cancel a deal with Rio Tinto (ASX, LON, NYSE: RIO) governing a $6.75 billion expansion of the Oyu Tolgoi copper mine in the Gobi Desert, as it looks to replace it with a new agreement.

Mongolia seeking pact with Rio Tinto to end copper mine expansion

Mining News Pro - Mongolia`s government is seeking an agreement from miner Rio Tinto to terminate a deal to expand the Oyu Tolgoi copper mine in the Gobi Desert, the Financial Times said, citing people with knowledge of the situation.

Turquoise Hill scores win in funding dispute with Rio Tinto over Mongolia mine

Mining News Pro - Canada’s Turquoise Hill Resources has scored a temporary, but key win in its ongoing dispute with Rio Tinto over funding of the vast Oyu Tolgoi copper-gold-silver mine in Mongolia.

Turquoise Hill seeks interim order against Rio over Mongolia mine funding

Mining News Pro - Canada’s Turquoise Hill Resources is seeking an interim order in its arbitration against Rio Tinto as some of the top miner’s actions could limit Turquoise Hill’s funding options for the vast Oyu Tolgoi copper-gold-silver mine in Mongolia.

Stakes high for Rio Tinto, Mongolia as Oyu Tolgoi talks loom

Mining News Pro - The next three to six months will be crucial to the future of the vast Oyu Tolgoi copper-gold mine in Mongolia, as the companies behind the operation engage in talks to find a way to improve the government’s financial benefits from an ongoing underground expansion.

Mongolia may revoke Rio Tinto’s plan for Oyu Tolgoi

Mining News Pro - The Government of Mongolia may cancel and replace the development and financial plan for the country’s vast Oyu Tolgoi copper-gold mine, Canada’s Turquoise Hill said on Monday.

Erdene shares up on new discovery in Mongolia

Mining News Pro - Erdene Resource Development announced on Wednesday a new gold discovery 3.5 km north of its Bayan Khundii project in Mongolia.

What’s behind a feud at Rio Tinto’s copper mine in Mongolia

Mining News Pro - Canadian mining company Turquoise Hill Resources Ltd is locked in a feud with its largest shareholder, Rio Tinto Plc, over the underground expansion of its massive Oyu Tolgoi copper mine in Mongolia.

Turquoise Hill stock tanks on Mongolia mine funding

Mining News Pro - Rio Tinto and Turquoise Hill said on Thursday they will jointly pursue debt reprofiling by engaging with existing lenders for the giant Oyu Tolgoi copper-gold-silver mine in Mongolia.

Xanadu raises cash for Mongolian exploration

Mining News Pro - Metals explorer Xanadu Mines is hoping to raise A$12-million to fund exploration work at its flagship Kharmagtai copper/gold project, in Mongolia.

Denison Mines wins arbitration ruling over Mongolian asset sale

Mining News Pro - The London Court of International Arbitration (LCIA) has recently rendered a final award in favour of Canadian uranium miner Denison Mines for the previously disclosed arbitration proceedings between the company and Uranium Industry (UI).

Mongolia graphite mine may help China fill gap from lower imports

Mining News Pro - Market analyst Roskill predicts that a new ‘ultra-large’ flake graphite mine being built in Inner Mongolia is likely to fill in the gap that has been left in the Chinese market by slower production in Mozambique.

Mongolia cancels Tavan Tolgoi’s $1bn IPO plan

Mining News Pro - Mongolia has cancelled an executive order to fund its giant Tavan Tolgoi coal project through an international initial public offering (IPO), citing “political distortions” and the current dire state of global financial markets.

Rio’s Mongolia operations slowed by coronavirus

Mining News Pro - Work at the Oyu Tolgoi copper-gold mine in Mongolia has slowed because of government curbs to curtail the spread of a coronavirus, Rio Tinto Ltd said on Monday.

Rio Tinto seeks international arbitration on tax dispute with Mongolia

Mining News Pro - Rio Tinto said on Friday its Mongolian copper unit had begun an international arbitration process, seeking to resolve a dispute with the local tax authority.

Rio Tinto scores big win in Mongolia

Mining News Pro - The world’s second largest miner Rio Tinto has scored a major win in Mongolia after the country’s parliament unanimously approved a resolution that reconfirms the validity of all the Oyu Tolgoi mine-related agreements approved since 2009.

Mongolia says Rio’s Oyu Tolgoi mine expansion to go ahead

Mining News Pro - Mongolia’s mining minister sided on Tuesday with mining giant Rio Tinto by saying the company’s ongoing $7 billion expansion of the massive Oyu Tolgoi underground copper-gold mine will “not be stopped.”

Turquoise Hill swings to loss on Mongolia mine woes

Mining News Pro - Rio Tinto-controlled Turquoise Hill Resources said an impairment charge at the cash-generating unit of its Oyu Tolgoi copper mine in Mongolia led to the company missing estimates for second-quarter profit on Wednesday.

Rio Tinto’s Mongolia copper problems highlight frontier country risks

Mining News Pro - Looking for a long-term bullish signal for copper? Then look no further than Rio Tinto’s struggles with the Oyu Tolgoi mine and expansion project in Mongolia.

Mongolia seeks to rewrite Oyu Tolgoi deal with Rio

Mining News Pro - Mongolian legislators will vote next month whether to rewrite a 2015 investment agreement with mining giant Rio Tinto (ASX, LON, NYSE:RIO) for the massive Oyu Tolgoi copper-gold mine, located in the Gobi Desert.

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