Tuesday, June 28, 2022
Google search engine
HomeMongolia NewsRio Tinto Says Mongolia Mine Can't Halt All Russian Imports

Rio Tinto Says Mongolia Mine Can’t Halt All Russian Imports

 

Rio Tinto is working to maintain steady supplies of fuel and other goods for its Mongolian copper operations but said it can’t stop buying from Russia altogether, a top executive at the mining giant said.

The Anglo-Australian company is developing Mongolia’s Oyu Tolgoi, one of the world’s largest known copper and gold deposits. Rio controls about two-thirds of the project, with Ulanbaatar controlling the rest.

While Rio has begin looking for alternative fuel sources for Oyu Tolgoi, the company does not believe it can stop buying from Russia altogether, Bold Baatar, head of Rio’s copper business, said.

Rio has supply agreements for a host of products with Mongolian suppliers, many of whom procure materials from Russia.

“The reality is, Mongolia has two very big powerful neighbours, so it’s quite important for us to maintain healthy, peaceful, balanced relationships,” Baatar said of his home country.

Mongolia is bordered on…

Read more…

RELATED ARTICLES
- Advertisment -
Google search engine

Latest Posts