Mongolia Mining News

Rio Tinto delays start of Oyu Tolgoi expansion due to technical issues

First production from the $5.3 billion underground expansion of Oyu Tolgoi was originally scheduled for early 2020.

Mongolian court says copper mine nationalisation broke laws

The Mongolian government broke laws during a controversial attempt to seize full control over the Erdenet copper mine.

Rio Tinto scours for electricity to run giant Mongolia copper mine

Mining giant running out of time to secure power supplies

Erdene becomes first cross-listed firm on the Mongolian Stock Exchange

The listing also makes Erdene the only precious metals exploration and development company currently registered on the exchange.

Rio Tinto signs JV exploration deal with China’s Minmetals

The companies are committed to explore for mineral deposits first in the Asian country and then the rest of the world .

Mongolia listing boosts investors confidence in Erdene Resource

The Halifax, Nova Scotia-based miner also said it had launched an offering of common shares to Mongolian residents, as well as a concurrent non-brokered private placement, which in combination are expected to raise up to $4.4 million.

Rio Tinto says investors to take stance on Oyu Tolgoi as ‘test case’

Rio Tinto has called for less interference at its giant copper and gold mine in Mongolia, as it moves forward with an underground expansion.

Rio Tinto says climbing costs, resource nationalism once again big threats

Chief executive Jean Sebastien-Jacques said the challenge for the industry is to ensure the benefits from the past frugal years are not lost against a backdrop of rising oil prices and increased political risk.

Erdene soars as Altan Nar project in Mongolia proves larger than predicted

Indicated and inferred gold equivalent resources increased by whooping 208% and 172% respectively, when compared to the project’s maiden mineral resource estimate of 2015.

Mongolian Copper Corp considers international fight for Erdenet mine

State seeks enforced acquisition of MCC's Erdenet stake.

A withhold up in Mongolia?

It is not conclusive that Rio avoided WHT on interest on shareholder loans, and there is no clear evidence to support the claims of treaty abuse.

Kazakhstan and Mongolia meeting highlights uranium mining cooperation

The two countries on 30 March signed a Memorandum of Understanding focusing on geology and development of mineral resources and civil aviation.

Mongolia arrests ex-minister in Swiss graft probe — govt

A Mongolian former finance minister, Bayartsogt Sangajav, has been arrested as part of an investigation into suspected abuse of power during investment talks for the giant Oyu Tolgoi copper mine in 2009.

Mongolia Oyu Tolgoi copper mine 2017 revenue drops 22% as construction delays weigh

Oyu Tolgoi booked $939.8 million in revenue for 2017, down from $1.2 billion the previous year.

Anti-corruption body asks Rio for Oyu Tolgoi-related info

Request relates to an investigation about possible abuse of power by authorized officials during negotiation of the 2009 Oyu Tolgoi investment agreement.

Mongolia's Oyu Tolgoi mine to lift force majeure

Majority owner Turquoise Hill Resources Ltd said that it expected to make up any sales-related effect over the next few quarters.

Mongolian court sides with government in copper mine ownership row

The Erdenet mine produces 530,000 tonnes of copper concentrate a year.

Rio to build power plant at Oyu Tolgoi copper-gold mine in Mongolia

Move would add further costs to an ongoing $5.3 billion underground expansion of the massive mine.

Mongolia says can build power plant to supply Oyu Tolgoi mine

Tensions have mounted between the Mongolian government and its fellow shareholders in Oyu Tolgoi, where Rio Tinto is operating a huge underground extension.

Rio Tinto’s Mongolian copper worries mount

Ulaanbaatar orders Rio Tinto to build domestic power plant for $5.3 billion expansion of Oyu Tolgoi copper-gold mine.

Resource-rich Mongolia rejects cap on foreign workers for 2018

Some members of Mongolia's parliament sought to limit the number of new resident permits granted to foreigners to 100 per year to protect domestic jobs.

Rio Tinto rejects allegation it dodged $700 million in Oyu Tolgoi taxes

Dutch non-profit organization claims Rio and its Canadian subsidiary Turquoise Hill used a complex network of tax haven subsidiaries and lending money to itself at high interest rates.

Rio Tinto bets big on Mongolia, opens local office

The new unit, under Mongolian leadership, will focus on exploration and local ties.

Force Majeure at Oyu Tolgoi mine due to border protests

Measure was taken as Chinese coal haulers continue to disrupt deliveries near the border with Mongolia, the mine's majority owner Turquoise Hill said.

Rio’s Oyu Tolgoi mine in Mongolia hit with $155 million tax bill

Rio Tinto-controlled Turquoise Hill said the bill relates to an audit on taxes imposed and paid by the mine operator between 2013 and 2015.