Oyu Tolgoi Mining News

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.

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.

Swiss seize bank accounts amid probe linked to Rio Tinto Mongolia mine

The Swiss attorney general’s office launched its probe in 2016, court documents show.

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.

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 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.

Massive Oyu Tolgoi mine to more than double gold production in 2018

Rio Tinto-controlled Turquoise Hill is also predicting costs to fall about 2.8%.

Erdene Resource moving forward with flagship project in Mongolia

While the company had other projects in the country, the Bayan Khundii gold project went from greenfield prospect to being its main asset in roughly nine months.

Erdene new gold zone at Mongolia Bayan Khundii project larger than expected

Bayan Khundii project went from greenfield prospect to being Erdene’s flagship asset in roughly nine months.

Oyu Tolgoi resumes copper shipments to China

Move follows extensive talks with Chinese and Mongolian authorities.

Fresh shake-up at Rio Tinto in aftermath of bribery probe

Russian-Canadian Vera Kirikova will become human resources group executive while Simone Niven will assume the corporate relations group executive post.

Rio Tinto says halt of copper shipments from Oyu Tolgoi ‘a bump in the road’

Chief executive Jean-Sebastian Jacques comments come as the company had to suspend shipments from the Mongolian mine last week.

$50 trillion in new investment needed to match global energy demand in next 20 years: Rio Tinto director

According to non-executive director Megan Clark, such investment would be needed to fund an energy market expected to grow by 40% through until 2035.

Rio Tinto to boot iron ore chief in fresh management shake-up

Andrew Harding, once tipped as the most likely person to take the company’s reins, is being replaced by Chris Salisbury, currently leading the copper and coal division.

Canada’s Erdene Resource sees bright future after striking gold in Mongolia

The company's Bayan Khundii project went from greenfield prospect to the company’s flagship asset in roughly nine months.

Turquoise Hill soars on Rio Tinto increasing stake rumours

The mining giant is said to have hired Goldman Sachs as an adviser to look at a two-step wrap-up of the Vancouver-based firm.

Rio Tinto says new Mongolia output to supply into copper deficit

Rio Tinto Group’s $5.3 billion underground expansion of Oyu Tolgoi mine in Mongolia will increase its output in about four years time when the copper market is in deficit, according to the company’s deputy chief executive officer.

Rio Tinto goes ahead with $5.3 billion expansion of Oyu Tolgoi

Construction of the massive mine's underground portion will begin within months, with first production expected by 2020.

The uranium shakedown: How Mongolia and Russia conspired against western investors (Part 3 of 3)

In the final part of our probe into the curious case of Khan Resources, we review events leading to the seizure of the company’s Mongolian assets and its chairman’s unusual death in an Ulaanbaatar hotel.