BECAUSE OF A dispute with the Mongolian government, Rio Tinto halted the development of its $5-billion underground mine expansion at the Oyu Tolgoi copper and gold mine in early August. The company announced on Aug. 14 that it plans to lay off as many as 1,700 employees and contractors, the Wall Street Journal reported. "Oyu Tolgoi is currently implementing the delay to the underground mine development announced earlier this month," a spokesman for the Anglo-Australian mining company said in a statement. "The company remains committed to resolving issues with Mongolia's government so development of the mine can resume."
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