Rio Tinto (LSE:RIO)
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1 Month : From Nov 2019 to Dec 2019
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.
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(END) Dow Jones Newswires
November 19, 2019 05:19 ET (10:19 GMT)
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