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Rio Agrees to Pay $139 Million To Settle Mongolian Mine Dispute

The open pit mine at the Oyu Tolgoi mine in Khanbogd, the South Gobi desert, Mongolia.

Photographer: SeongJoon Cho/Bloomberg

Rio Tinto Group has agreed to pay $138.75 million to settle a lawsuit that accused the miner of hiding problems from investors at its giant copper mine in Mongolia.

The plaintiffs, led by Pentwater Capital Management, alleged the world’s second-biggest miner held back information on the Oyu Tolgoi underground expansion from investors as costs ballooned and it fell behind schedule.