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Mongolia urges Rio Tinto to rewrite copper mine terms
Mongolia demands a loan interest cut to under 6% and lower management fees from Rio Tinto on the $18 billion Oyu Tolgoi mine, warning of tax penalties if talks fail.
7 Articles
7 Articles
Mongolia’s government demanded early profit payments and a bigger share of revenue from the massive Oyu Tolgoi copper mine it co-owns with Rio Tinto Group, according to a statement.
The country is seeking to reduce the interest rate it pays on a loan provided by the mining company and gradually eliminate the annual administration fee that the mining giant charges on the project.
Rio Tinto, Mongolia Negotiate Oyu Tolgoi Mine.
Rio Tinto in Talks with Mongolia Over Oyu Tolgoi Mine ULAANBAATAR – Rio Tinto confirmed ongoing negotiations with the Mongolian government regarding the Oyu Tolgoi copper mine. The mine, a significant global source of copper crucial for electric vehicle production and data center infrastructure, is at the heart of discussions aimed at resolving outstanding issues. Key Resource: Oyu Tolgoi holds substantial copper deposits. Strategic Importance:…
In January 2026, Mongolian Prime Minister G. Zandanshatar sent a letter to the management of Oyu Tolgoi LLC and Rio Tinto Group, setting out specific conditions for securing Mongolia’s interests in the Oyu Tolgoi project. In response to these demands, Rio Tinto CEO Simon Trott sent a letter to Prime Minister G. Zandanshatar on February 5 of this year, confirming his position to continue open and productive dialogue based on the common interests …
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