Rio Tinto puts USD 5 billion Mongolia mine expansion on hold -: "Reuters reported that Rio Tinto has put on hold a more than USD 5 billion underground expansion of its giant Oyu Tolgoi copper mine in Mongolia, after the government said parliament would need to approve financing for the project.
The delay marks the latest bump in the road for the global miner at one of its biggest projects which started exporting copper from an open pit mine at the site this month after two last minute hiccups in securing government approval.
Rio Tinto already needed Mongolian government approval for the financing for Oyu Tolgoi's second phase. It did not give a reason on Monday for the request for a green light also from the country's parliament."
'via Blog this'
