The move is seen by analysts as an attempt to strengthen the firm’s image.
Leaders of IndustriALL Global Union’s Rio Tinto Network will gather in Mongolia on 22 October to plan the next moves in the worldwide campaign to improve worker rights at the mining giant.
Vancouver-based Turquoise Hill blames "delayed mine advancement" at massive Mongolian property.
The underground portion of the Oyu Tolgoi copper-gold complex is no closer to fruition, after the parties behind the US$5 billion operation let a Sept. 30 financing deadline lapse without applying for an extension.
We've heard this before.
Work on feasibility study for $6bn underground expansion of massive Mongolian copper-gold mine can resume after confirmation tax dispute is settled for $100m less.
Productivity, followed by capital decisions and obtaining a social license to operate, are among the top risks global mining and metals companies face.
One of the two tailings thickeners experienced rake failure last Friday.
Talks ahead of September 30 funding deadline continue and feasibility study for $5bn expansion of Mongolia mine almost complete, but huge gaps remain.
The Asian nation is dependent on foreign investment in the mining sector to fuel growth.
The world’s second-largest mining company’s produced 139.5 million metric tons of iron ore in the six months through June, while its shipments rose 20% to 142.4 million tons.
The move aims to shift blame for delays away from the government.
New law expands the proportion of Mongolia’s area available to mining and exploration from 8% to 20%, among other investor-friendly changes.
Mongolia blocks accused from leaving country, often for years.
The long-dragged dispute between Rio and the Mongolian government over a $6.6 billion underground expansion of Oyu Tolgoi has hit a fresh impasse.
The revisions to the country's mining law would increase the area available to exploration to 20%t from around 8%.
Amid the miner's efforts to reduce costs at its gigantic copper and gold operation in Mongolia.
The head of the world’s second largest mining company, Sam Walsh, said he will soon stop focusing on cost cuts to centre on growth again.
Foreign direct investment in the central Asian country dropped 50% last year.
Company is confident the government will return two of the licences revoked last year.
Erdene Resource owns the Altan Nar gold-polymetallic project, located in southwest Mongolia, 200 kilometres from the border with China.
Production of the steel-making material, however, increased by 16%, which means the miner is on track to meet its full-year target.
But production at massive Mongolian mine slips and shares take a beating.
While mining giants have boost Mongolia’s economy, illegal miners keep polluting the environment and driving industry's death figures up.
Operator Turquoise Hill may need to ask lenders to extend financing for the $6.2 billion mine extension.
The Vancouver-based miner said it expected coal prices to remain weak.
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