Mongolia scolds Rio Tinto - Opinion | IOL Business | IOL.co.za: "Outside, it’s minus 30ºC as a February wind blasts across the Central Asian steppe and through the Mongolian capital, Ulaanbaatar. Inside Government House, President Tsakhiagiin Elbegdorj delivers a televised speech that warms his people and chills foreign investors.
The country’s 76 legislators have convened to debate the future of one of the planet’s richest copper and gold mines, Oyu Tolgoi, which is 66 percent owned by Rio Tinto Group and 34 percent owned by the state. Elbegdorj said Rio Tinto had let the project’s total cost balloon by $10 billion (R89bn). The higher expenses, which Rio Tinto disputes, would diminish and delay profits the government shares in."
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