Talks With Mongolia Delay $5B Rio Tinto Mine Expansion

Law360, New York (July 29, 2013, 5:11 PM EDT) -- Rio Tinto PLC has officially put its funding plans for a more than $5 billion copper and gold mine expansion on ice as it continues negotiations with the Mongolian government, according to a Monday announcement.

The Mongolian government, which is currently in summer recess, has notified Rio Tinto that the company will need to have project financing terms for the second phase of the $13 billion project approved by the Mongolian Parliament. Between the parliamentary approval and on-going discussions on other issues involving the project, Rio...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.