Rio Unit Says Cost of Oyu Tolgoi Mine Jumps 16% to $6.6 Billion
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The cost of building Rio Tinto Group’s Oyu Tolgoi copper and gold mine rose 16 percent to $6.6 billion, according to a company statement responding to criticism of the project in Mongolia’s parliament last week.
The estimate compares with the initial 2010 costing of $5.7 billion, according to a statement on the website of Oyu Tolgoi LLC, the mine’s operator that is owned 66 percent by Rio unit Turquoise Hill Resources Ltd. and 34 percent by Mongolia’s government.