Rio Tinto Faces Lawsuit in Mongolia Over Oyu Tolgoi Mine; Refutes Allegations

Date : 11/19/2019 @ 10:34AM
Source : Dow Jones News
Stock : Rio Tinto Plc (RIO)
Quote : 4129.5  -50.0 (-1.20%) @ 4:35PM

Rio Tinto Faces Lawsuit in Mongolia Over Oyu Tolgoi Mine; Refutes Allegations

Rio Tinto (LSE:RIO)
Historical Stock Chart

1 Month : From Nov 2019 to Dec 2019

Click Here for more Rio Tinto Charts.
   By Adria Calatayud 
 

Rio Tinto PLC (RIO.LN) said Tuesday that it faces a lawsuit in an administrative court in Mongolia over its Oyu Tolgoi project, and that it refuted any suggestion that a development and financing plan or any of the foundational agreements for the mine are illegal.

The mining giant said early reports suggest the Administrative Court of first instance has upheld claims by non-governmental organization Darkhan Mongol Nogoon Negdel that due process wasn't followed by the government of Mongolia in finalizing the plan. The court's formal written ruling is expected to be released in the coming weeks, Rio Tinto said.

The lawsuit was started by the NGO and relates to the government of Mongolia's process in finalizing the Oyu Tolgoi underground mine development and financing plan, Rio Tinto said.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

November 19, 2019 05:19 ET (10:19 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.