Rocky road for Rio in developing world: "First sales from Mongolia's Oyu Tolgoi copper and gold mine were expected to be celebrated on Friday, after Rio staff sent out invitations to guests - including the Mongolian Prime Minister - to attend a ceremony for the milestone.
Rio has had to fight all the way for Oyu Tolgoi, through a bitter takeover of Robert Friedland's Ivanhoe Mines, shortages of infrastructure and water, and numerous attempts by the Mongolian government to nationalise more of the mine's wealth.
Apart from the first sales, the ceremony was seen as a proxy for demonstrating improved relations between Rio and the government, as Rio had previously warned that strained relations could delay first shipments beyond the June target.
By Wednesday the ceremony had been cancelled, with Rio refusing to explain why. But sources close to Oyu Tolgoi suggest a ceremony is still likely before June 30."
'via Blog this'
Rio has had to fight all the way for Oyu Tolgoi, through a bitter takeover of Robert Friedland's Ivanhoe Mines, shortages of infrastructure and water, and numerous attempts by the Mongolian government to nationalise more of the mine's wealth.
Apart from the first sales, the ceremony was seen as a proxy for demonstrating improved relations between Rio and the government, as Rio had previously warned that strained relations could delay first shipments beyond the June target.
By Wednesday the ceremony had been cancelled, with Rio refusing to explain why. But sources close to Oyu Tolgoi suggest a ceremony is still likely before June 30."
'via Blog this'
