Last week, Turquoise Hill Resources reported that a lawsuit previously lodged by a Mongolian non-governmental organization (NGO) group was apparently upheld by the country’s Administrative Court.
The challenge, brought by NGO group Darkhan Mongol Nogoon Negdel, alleges due process was not properly followed in 2015 when the Government of Mongolia finalized the Oyu Tolgoi underground mine development and financing plan (UDP) with partners Turquoise Hill and Rio Tinto, both of whom refute any suggestion that the UDP or any of its underlying agreements are illegal.
Rio Tinto is operator at the Oyu Tolgoi copper mine in southern Mongolia, and a majority shareholder of Turquoise Hill, holding a 50.8% interest. The Mongolian government owns 34% of the large copper operation through its state-owned Erdenes Oyu Tolgoi LLC and Turquoise Hill owns 66%.
Continue reading at The Northern Miner.