September 22, 2012

Rio Tinto faces Mongolian power struggle - The Globe and Mail

Rio Tinto faces Mongolian power struggle - The Globe and Mail: "In the middle of the Gobi Desert in Mongolia, Rio Tinto’s flagship $5.2-billion (U.S.) copper-gold mine stands nearly completed except for one thing: The mine is waiting for the power to be switched on.

The Oyu Tolgoi mine, which holds the world’s largest undeveloped copper deposit, has been caught in the middle of a complex negotiation between China and Mongolia. The two sides are trying to reach a deal under which the mine, which is close to the Chinese border, would buy electricity from the Chinese grid."

'via Blog this'