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...
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