2020-02-26 05:14:251970-01-01 00:00:00

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Rio Tinto’s Mongolian Project: New Legal Probe

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Rio Tinto's Mongolian Project Rio Tinto was involved in the investigation by the law firm  Baker McKenzie in relation to the $US5.3 billion ($7.7 billion) in new Mongolian copper expansion probe, which would make the relationship with minority shareholders in Turquoise Hill Resources more sensitive and fractious. The investigation by the global firm initially focused on a former employee’s significant claim on the Mongolian project, which was the expansion of Oyu Tolgoi project. Oyu Tolgoi project, located in the south of Mongolia, is jointly owned by the Government of Mongolia (34 percent) and Turquoise Hill Resources (66 percent). Although Rio Tinto did not own the stakes in Oyu Tolgoi project, they owned 51 percent of Turquoise Hill, therefore, Rio Tinto became the operator of the expansion project. Since 2010, Rio Tinto had been the manager of the project, which was Rio’s major copper growth project.

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