SKNVibes | Rio Tinto to lay off 1,700 at Mongolia project: "(Sydney, AUS) - Mining giant Rio Tinto on Thursday said it will lay off up to 1,700 staff at its huge Oyu Tolgoi copper mine in Mongolia after a more than $5 billion expansion was halted.
The project in the Gobi desert, at one of the richest copper deposits in the world, has been years in development but has been hit by a series of last-minute delays due to political wrangling.
Its planned expansion was put on ice last month after the Mongolian government said financing provisionally secured for the underground development needed to be approved by parliament, which is in recess."
'via Blog this'
