Mining IQ

The Secret wealth of OYU TOLGOI

Posted: 06/27/2013

In the past 4 to 5 years, one reason of Mongolian economy has become attractive to foreign investors was related to the development of the OT project. Political figures and experts have acknowledged this.

At this time, the project developer Ivanhoe Mines changed its name to Turquoise Hill Resources and its controlling share was owned by mining giant Rio Tinto. Therefore, Mongolia has to deal with Rio Tinto, not only Ivanhoe Mines. Generally, behind the project developer, Ivanhoe Mines, stands Rio Tinto, which is one of the largest mining companies in the world. Now this is already known by all mongolians from Narantuul’s carrier boys to Zamyn-Uud’s cement carrier people. But we are still eyeing the OT project with suspicion. Because there are too many things that need to be reviewed and remain unclear to the Mongolian people.

By B.Tugsbilegt

Contributed by Mining IQ Partner - Logantek

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Posted: 06/27/2013