Rio Tinto in talks with Mongolio over Oyu Tolgoi copper mine, WSJ reports

Rio Tinto (RIO) is in talks with Mongolia over financial terms at the massive Oyu Tolgoi copper mine, with the government seeking lower loan interest costs and the removal of Rio’s annual management fee, The Wall Street Journal’s Rhiannon Hoyle reports. State-owned Erdenes Mongol holds a 34% stake in the project, while Rio Tinto owns the remainder and operates the mine. “We are engaged in active negotiations with the Mongolian government,” Rio Tinto said in an emailed statement, adding that “These discussions reflect our continued commitment to working together to achieve Oyu Tolgoi’s full potential for the benefit of all partners.”