Rio Tinto’s Copper Dream Stirs Water Worry (Video)
(Updates to add comment from Rio Tinto on shipments in second paragraph.)
June 21 (Bloomberg) -- Rio Tinto Group's copper mine in Mongolia's Gobi desert, known as Oyu Tolgoi, is a deposit that contains enough of the metal to meet world demand for two years.
The project will boost Mongolia's economy by a third, Rio says. It's also raising concerns about water supply in Mongolia’s most arid region. Rio Tinto yesterday postponed today’s scheduled first shipment from the $6.6 billion mine, saying it will start as soon as the government indicates support. Bloomberg's Yuriy Humber reports. (Source: Bloomberg)
Bloomberg’s Lisa Abramowicz and Carl Riccadona discuss ECB President Mario Draghi’s version of quantitative easing. They speak with Bloomberg’s Alix Steel on “Street Smart.” (Source: Bloomberg)