- Rio Tinto (LON:RIO) (RIO +1.1%) faces further problems in Mongolia as its majority owned Turquoise Hill Resources (TRQ -1.2%), through which it controls the giant Oyu Tolgoi copper and gold mine, says it received a request from the Mongolian Anti-Corruption Authority to provide financial information.
- TRQ says the request concerns "an investigation about possible abuse of power by authorized officials during negotiation of the 2009 Oyu Tolgoi Investment Agreement. There is no indication in the ACA information request to suggest that Oyu Tolgoi is a subject of the investigation.”
- Rio and TRQ have a turbulent relationship with Mongolia's government: TRQ was hit in January with a $155M tax claim, copper exports from the mine have been interrupted by protests near the China-Mongolia border, and the government recently ended a deal that allowed power for Oyu Tolgoi to be sourced from China.
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