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Mongolia asks Rio Tinto to mutually cancel Oyu Tolgoi deal
Mining camp at Oyu Tolgoi. (Image courtesy of Fluor.)

Mongolia’s government is said to be actively seeking to cancel a deal with Rio Tinto (ASX, LON, NYSE: RIO) governing a $6.75 billion expansion of the Oyu Tolgoi copper mine in the Gobi Desert, as it looks to replace it with a new agreement.

Rather than acting unilaterally, which would risk future foreign investment projects, local authorities have suggested Rio Tinto to mutually terminate the plan. The end goal, Financial Times reports, is to reach a new agreement more beneficial to Mongolia.

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Mining camp at Oyu Tolgoi. (Image courtesy of Fluor.)

Mongolia’s government is said to be actively seeking to cancel a deal with Rio Tinto (ASX, LON, NYSE: RIO) governing a $6.75 billion expansion of the Oyu Tolgoi copper mine in the Gobi Desert, as it looks to replace it with a new agreement.

Rather than acting unilaterally, which would risk future foreign investment projects, local authorities have suggested Rio Tinto to mutually terminate the plan. The end goal, Financial Times reports, is to reach a new agreement more beneficial to Mongolia.

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