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/BloombergRio 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.