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A subsidiary of Rio Tinto (NYSE:RIO) has said that its Oyu Tolgoi mine in Mongolia has run into another obstacle, as rake arms in one of its tailings thickeners has failed, according to Reuters.
A subsidiary of Rio Tinto (NYSE:RIO) has said that its Oyu Tolgoi mine in Mongolia has run into another obstacle, as rake arms in one of its tailings thickeners has failed, according to Reuters.
As quoted in the publication:
The Vancouver-based miner, a subsidiary of mining company Rio Tinto Plc , said an investigation was under way to determine the cause of the failure and that repairs had begun at the mine in southern Mongolia.
Oyu Tolgoi, which is 66 percent owned by Turquoise Hill and 34 percent owned by the Mongolian government, is one of the most promising copper assets in the world. But the project, initially discovered and developed by mining financier Robert Friedland’s Ivanhoe Mines Ltd, has been plagued by a myriad of problems over the last decade.