Rio Tinto to lay off 1,700 at Oyu Tolgoi copper mine

SYDNEY – Global mining giant Rio Tinto is planning to lay off up to 1,700 staff at its huge Oyu Tolgoi copper mine in Mongolia after a more than US$5 billion expansion was halted due to political wrangling leading to a series of last minute delays. The Mongolian government has a 34 percent stake in Oyu Tolgoi while Rio Tinto-controlled firm Turquoise Hill Resources has the remaining 66 …

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