Costs At Rio Tinto's Massive Mongolian Copper Mine Blow-Out

From sharecafe.com.au

Rio Tinto shares hardly moved yesterday despite the news of a major delay and cost blowout of up to 36% of the original $US5.3 billion estimate at its huge copper mine and underground project in Mongolia. And there’s no certainty the latest estimate is accurate with Rio revealing of difficult conditions in Mongolia and other problems. Warnings about stability problems, difficult mining conditions, and other problems will raise questions about the continuing spend on the project and eventual production costs. Rio shares finished down 0.6% at $103.25 after it told the market that the cost of its Oyu Tolgoi ... (full story)