The Oyu Tolgoi copper-gold mine in Mongolia is a joint venture between the Government of Mongolia (34%) and Turquoise Hill (66%), a majority-owned subsidiary of Rio Tinto. This is financially the largest mining project in Mongolia, and Rio Tinto intends to dig for more. Rio Tinto has set up an office in the capital city of Ulaanbaatar to focus on local exploration and networks, with plans to employ as many as 80 staff this year. Mongolia is a country known to have massive sources of untapped minerals and is notably next door to China, the world’s top copper consumer. Rio Tinto is not the only company to see the value in Mongolian soil, Erdene Resource Development of Canada has copper-gold projects within the country, as well as Xanadu Mines of Australia.
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