Tag Archives: Oyu Tolgoi

Denison wins arbitration ruling on Mongolian asset sale

The London Court of International Arbitration (LCIA) has recently rendered a final award in favour of Canadian uranium miner Denison Mines (TSX: DML) for the previously disclosed arbitration proceedings between the company and Czech-based firm Uranium Industry (UI). In November 2015, Denison completed the sale of its mining assets and operations located in Mongolia to UI pursuant to an amended and restated share purchase. The primary …

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Turquoise Hill takes Rio Tinto to arbitration over Mongolia mine funding

Canada’s Turquoise Hill Resources (TSX, NYSE: TRQ) is taking Rio Tinto (ASX, LON, NYSE: RIO) to arbitration over the mining giant’s role and obligations to support the company in securing additional funding for the vast Oyu Tolgoi copper-gold-silver mine in Mongolia. Turquoise Hill said a special committee of its board, which approved the arbitration, concluded that Rio’s approach to the financing of …

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Mongolia raises heat on Rio Tinto over vast Oyu Tolgoi copper mine

Government seeks review into expansion project that is late and billions of dollars over-budget Rio Tinto is facing further pressure in Mongolia, where the government is seeking an independent review into delays and huge cost blowouts in the underground expansion of one of the mining group’s most important projects. Ulaanbaatar wants the joint venture that owns Oyu Tolgoi, a vast …

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Оюутолгойн асуудал есдүгээр сард шийдэгдэнэ

Монгол Улсын Засгийн газрын албаны хүний мэдээлснээр зэс, алтны томоохон төсөл болох Оюутолгойн уурхайн бүтээн байгуулалт ирэх есдүгээр сард шийдэгдэх нь хэмээн “scrapmonster.com” сайтад дурджээ. Энэхүү нийтлэлд “Гүний уурхайн ажил хоёр жилийн дотор эхлэх аж. Энэхүү уурхайн бүтээн байгуулалтын ажил өнгөрсөн жил санхүүжилтээ батлах болоход саатсан юм. Засгийн газраас мэдэгдсэнээр санхүүжилтийг парламентаар батлах юм. Монгол Улсын Эдийн засгийн хөгжлийн дэд …

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US raises serious concerns over Oyu Tolgoi’s environmental, social impact

World number two miner Rio Tinto (LON:ASX) has suffered another setback at Oyu Tolgoi in Mongolia after the US refused to vote on World Bank funding to expand the massive copper-gold project in Mongolia. Operator Turquoise Hill Resources (TSX:TRQ), which is controlled by Rio, has already spent more than $6 billion on the mine in the south Gobi desert where …

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Mongolia cancels key Oyu Tolgoi licences

FT.com reports Mongolia has revoked the licences for a key section of Rio Tinto’s  Oyu Tolgoi giant copper-gold mine. The London paper reports “Rio is meeting with the government on Wednesday and Thursday, as the two sides are under pressure to reach agreement before funding runs out for the $6.6bn mine. “If an agreement is not reached either the mine …

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