Rio Tinto to Invest $300 Million in Oyu Tolgoi This Year

Reuters reported that Rio Tinto (NYSE:RIO) is planning to invest $250 to $300 million on an underground expansion at its Oyu Tolgoi copper mine in Mongolia this year.

As quoted in the publication:

The second phase of construction at the mine is expected to begin this year, Prime Minister Chimed Saikhanbileg told Reuters in an interview, marking progress for the long-stalled $5-billion mine that is expected to boost Mongolia’s economy by a third when it reaches full capacity in 2021.

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