Bloomberg reported that Rio Tinto is considering halting production temporarily at its Mongolian Oyu Tolgoi copper and gold project, as the government is trying to extract a share from profits.
As quoted in the market report:
The London-based company is discussing the suspension to protest the central Asian nation’s demands for a bigger stake in the project and new mining royalty rates, said the people, who asked not to be identified because they aren’t authorized to comment publicly. A suspension of work, which may halt mining and processing, isn’t certain and is among options that managers are discussing in London, one of the people said.
Is the “looming copper supply crunch” fact or fiction? It’s time to debunk a few industry myths.Learn everything an investor needs to know about copper supplies and demands. Click below to download a FREE industry report on copper investing.
Send me the report!
Click here to download for free