Bloomberg reported that Rio Tinto is considering shutting down production temporarily at its Mongolian Oyu Tolgoi copper and gold project, because the government is demanding a greater share of the mine’s 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.
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