Rio Tinto slapped with penalties after Oyu Tolgoi audit

摘要

Rio Tinto may face penalties after it was handed a new audit report from the Mongolian Tax Authority, which claims the mining giant is in arrears of tax payments on its $6.2 billion Oyu Tolgoi copper mine project. Turquoise Hill Resources, the Rio Tinto-owned subsidiary that owns the rights to Oyu Tolgoi, said it disputed the authority's claims and that a failure to resolve the issue before the end of this month could jeopardise the mine's next phase of development - an underground expansion to boost production of the project's already completed primary phase. The company said it would consider taking Mongolia to international arbitration if they decide that the new tax claim amounts to a breach of the pair's investment agreement.