Rio Tinto (ASX:RIO) says Mongolian mine agreements are legal

Company News

by Rachael Jones

Rio Tinto (ASX:RIO) today notes Administrative Court proceedings in Mongolia with regard to a lawsuit initiated by the Darkhan Mongol Nogoon Negdel Non-Governmental Organization (NGO) relating to the Government of Mongolia’s process in finalising the Oyu Tolgoi Underground Mine Development and Financing Plan (UDP).

Early reports suggest the Administrative Court has upheld claims by the NGO that due process was not followed by the Government of Mongolia in finalising the UDP.

Rio Tinto strongly refutes any suggestion that the UDP or any of the foundational OT Agreements are illegal.

Shares in Rio Tinto (ASX:RIO) are trading 0.33 per cent lower at $94.89.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.