Rio Tinto (ASX:RIO) says Mongolian mine agreements are legal
Rio Tinto (ASX:RIO) today notes Administrative Court proceedings in Mongolia with regard to a lawsuit initiated by the Darkhan Mongol Nogoon Negdel Non-Governmental Organization (NGO) relating to the Government of Mongolia’s process in finalising the Oyu Tolgoi Underground Mine Development and Financing Plan (UDP).
Early reports suggest the Administrative Court has upheld claims by the NGO that due process was not followed by the Government of Mongolia in finalising the UDP.
Rio Tinto strongly refutes any suggestion that the UDP or any of the foundational OT Agreements are illegal.
Shares in Rio Tinto (ASX:RIO) are trading 0.33 per cent lower at $94.89.
Copyright 2019 – Finance News Network
Source: Finance News Network
