19.7 C
Supported byspot_img

Rio Tinto’s Mongolia mine will expand

Member of Europium Groupspot_img
Supported byspot_img

Mining minister says expanded copper mine in Gobi Desert ‘would not be stopped’ despite protests


Anglo-Australian firm Rio Tinto’s plan to expand a copper mine in Mongolia will go ahead, the country’s mining minister said, according to the Financial Times newspaper.

The project has been disrupted by protests from locals worried about environmental damage and foreign influence.

Supported by

However, Dolgorsurengiin Sumyaabazar said the plan to expand the partially state-owned Oyu Tolgoi mine in the Gobi Desert would “not be stopped.”

The plan “would proceed directly forward,” he said at the Mines and Money conference in London, according to the FT.

The minister said the Mongolian national security council chaired by President Khaltmaa Battulga had accepted a parliamentary motion to do so, the FT reported.

Mongolia owns 34% of the mining project. Rio Tinto was not immediately available for comment.

Rio Tinto and Mongolia reached an agreement in May 2015 to exploit vast copper and gold deposits in the Gobi desert.

But the project has been hampered by protests in a country that is highly dependent on mineral resources.

Source: asiatimes.com

Supported byElevatePR Digital

Related News

Rio Tinto challenges Serbian government with arbitration notice on Jadar project

Background of the dispute: Jadar project and environmental protests The British-Serbian activist group Earth Thrive has reported that Rio Tinto has officially notified the Serbian...

“Financial Times” publishes letter from 40 Serbian experts on Rio Tinto: We are not geopolitical pawns on Europe’s periphery

"Financial Times" published a letter signed by more than 40 experts and civil society organizations from Serbia in response to an article titled "Serbia...

Mongolia: Balancing mineral wealth, governance and global diplomacy

From its origins as a satellite state within the Soviet orbit, Mongolia has transformed into a dynamic democracy pulsating with entrepreneurial spirit. Transitioning from...

EBRD invests $10 million in sustainable gold mining project with Khan Altai Resource in Mongolia

The European Bank for Reconstruction and Development (EBRD) has committed a $10 million (€9.2 million) loan to Khan Altai Resource (KAR), a special purpose...
Supported by
Supported by
Supported by
error: Content is protected !!