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Rio’s Mongolia Mine to Reduce Staff Amid Market Challenges

Rio Tinto Group will cut jobs at its Oyu Tolgoi copper and gold mine in Mongolia following a review aimed at reducing costs.

The number of people to be fired is likely to be about 300, according to two people familiar with the job cuts, declining to be identified as the review is private. Oyu Tolgoi employed more than 7,000 Mongolian workers as of Dec. 31, or 95 percent of the staff at the project, according to the company’s website.