Costs rising for Rio Tintos Mongolian copper venture Rio Tinto has revealed an increase to the overall cost of fully developing its Mongolian copper venture and warned that it was yet to accept a recent tax ruling from the Mongolian government. In a further sign that both Rio and the Mongolian government are working on their multitude of differences over the Oyu Tolgoi mine, Rio published an updated version of the feasibility study for the second stage of the project on Tuesday morning. The feasibility study has been long delayed, and is a crucial step for the company and country, as they try to get the project back on track. Rio and the Canadian subsidiary that is building the mine, Turquoise Hill Resources, now believes that development of the second stage, which contains most of the projects wealth, will cost $US5.4 billion ($6.1 billion) including the $US500 million already spent to date. Read more: smh.au/business/mining-and-resources/costs-rising-for-rio-tintos-mongolian-copper-venture-20140923-10kncl.html#ixzz3E8eKphpq
Posted on: Tue, 23 Sep 2014 11:48:12 +0000