Mongolia Fears Profit Loss on Rising Costs at Oyu Tolgoi

Reuters reported that a new report suggests that Rio Tinto’s Oyu Tolgoi mine construction will cost 30 percent more than had been forecast as they prepare to proceed with the second phase of development.

As quoted in the market report:

Rio and Mongolia are at loggerheads over Oyu Tolgoi and the future of one of the world’s largest untapped copper deposits, just as the mine ramps up output and the Rio subsidiary that owns it tries to secure $4 billion for the next stage of development.

To view the whole Reuters report, click here.