NewsBite

Mongolian partners revolt, force Rio into Oyu Tolgoi review

Peter Ker
Peter KerResources reporter

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Rio Tinto will be forced to endure an independent review of its failure to meet cost and schedule guidance on Mongolia's Oyu Tolgoi copper mine expansion, after the mining giant's less powerful partners united in an extraordinary show of defiance.

The government of Mongolia and representatives of Canadian company Turquoise Hill Resources worked together on Monday evening to ensure an independent review would be conducted into the blowouts, which will see Rio's most important growth project delivered almost two years late and close to $US1.5 billion ($2 billion) over budget.

Loading...
Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Read More

Latest In Mining

Fetching latest articles

Most Viewed In Companies

    Original URL: https://www.afr.com/companies/mining/mongolian-uprising-forces-rio-into-oyu-tolgoi-review-20201201-p56joe