Rio Tinto\u0027s Mongolian operation will be the world’s fourth\u002Dbiggest source of copper, churning out half a million tons a year. Read more.
But the difficult route to underground production at Oyu Tolgoi — the launch was once envisaged for 2015 — reflects the challenges in bringing on new supplies. One reason is mineral-rich nations like Mongolia increasingly demanding better terms from global mining companies. Oyu Tolgoi could add a third to the size of the Central Asian nation’s economy.
Mongolian leader Oyun-Erdene Luvsannamsrai, speaking at the underground opening ceremony, acknowledged many “hiccups” for the project. Difficult negotiations with Rio were driven by a desire to maximize benefit for the country’s people, he said.A 2021 agreement for Rio to write off US$2.4 billion of state debt was crucial for Stausholm — chief financial officer until he was appointed to the top job in late 2020 — to get to today’s juncture.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
B.C. arena named finalist in Kraft Hockeyville contest - Terrace StandardPlanet Ice is one of the four finalists competing for the $250,000 grand prize
Read more »
Warren Cayen wins the February cash draw for St. Joseph'sTakes home a $1,730 prize from fundraising 50/50 draw
Read more »
Midway leader Adam Svensson no match for Scottie Scheffler in third round of The Players ChampionshipScheffler leads by two heading into final round in pursuit of No. 1 ranking and record $4.5-million (U.S.) prize.
Read more »
Toronto filmmaker Sarah Polley wins best adapted screenplay Oscar for ‘Women Talking’Also among the early Canadian winners was Toronto director Daniel Roher, whose film “Navalny” took home the best documentary prize.
Read more »