forced the resignation of his predecessor, has made a top priority of forging closer ties with governments and stakeholders around the world. He has visited Mongolia twice in recent months in a bid to address deepening concerns in the country that the economic benefits of the project for Mongolians were being eroded.
Mongolia’s Oyu Tolgoi deposit is one of the world’s biggest-known copper and gold deposits. The Mongolian government holds a 34 per cent stake in Oyu Tolgoi and Rio Tinto’s majority-owned Turquoise Hill Resources owns 66 per cent.
Rio Tinto’s progress in growing its exposure to copper comes after its push into lithium, another of the key raw materials needed to build electric cars, faced a setback last week. The Serbian government revoked its licences to develop the $US2.4 billion Jadar lithium mine following months of large-scale public protests over the project’s potential environmental impacts.
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