Rio Tinto Halts Shipments From Mongolia Mine After Tax, Border Disputes -FT

Rio Tinto has halted shipments of copper concentrate from its Oyu Tolgoi copper mine in Mongolia after a week-long dispute at a border crossing to China and a new tax bill from the Mongolian government, reports the Financial Times.

--The movement of coal and copper at the Gants Mod crossing has been halted for more than a week as a result of a dispute over health insurance for truck drivers, according to the FT.

--Rio Tinto's Canada-listed subsidiary Turquoise Hill, which holds the shares in the Oyu Tolgoi mine, revealed a new bill for $155 million in back taxes, a bill the company said it is disputing, says the FT.

Full story: http://on.ft.com/2DJYICB

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January 18, 2018 01:54 ET (06:54 GMT)