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Rio Tinto Suffers $1.4 Billion Cost Blowout at Mongolia Mine Amid a Planned Government Progressive Royalty Scheme

Rio Tinto ( RIO ), the second-largest miner in the world, is having problems over rising costs at its Oyu Tolgoi copper mine as well as a planned progressive royalty scheme being introduced.

The cost blowout is estimated at $1.4 billion which would increase the cost of the project's second phase to $5.1 billion, excluding the building of a power station and less production of copper concentrate.

Read More on International Business Times

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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