Vancouver's Turquoise Hill lowers output estimates for Mongolian mine to 600,000oz–700,000oz of gold and 175,000t–195,000t of copper in concentrates.
The mining giant said it was committed to giving significantly more money back to shareholders in 2015 despite a severe drop in iron ore prices.
The appointment of Chimed Saikhanbileg on Friday represented "business as usual" for the government, and could further drive away foreign investment.
Nominee Amarjargal Renchinnyam is a respected economist who could help bring Vancouver firm's $5bn Oyu Tolgoi copper-gold expansion project back on track.
Mine operator and Rio's subsidiary Turquoise Hill said Monday they have made an offer to the government of Mongolia to resolve matters in a manner deemed "beneficial to all stakeholders.”
What happens next is critical say mining companies currently operating in the country.
According to The Times, Rio flagged the possibility of a writedown in August.
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.
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