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HOUSTON – Rio Tinto is working to take care of regular relationships with Russia to make sure provides of gas and different items for its Mongolian copper operations, a prime govt on the mining big mentioned on Wednesday.
The Anglo-Australian firm is growing Mongolia’s Oyu Tolgoi, one of many world’s largest recognized copper and gold deposits. Rio controls about two-third of the undertaking, with Ulanbaatar controlling the remainder.
Mongolia is bordered on the north by Russia and on the south and east by China, leaving Rio few choices to safe provides for the undertaking, which is about to be the world’s third-largest copper mine.
Amid Russia’s invasion of Ukraine, a number of firms and nations have introduced they may cease enterprise in Russia and shopping for Russian merchandise.
Whereas Rio has start in search of various gas sources for Oyu Tolgoi, the corporate doesn’t consider it may well cease shopping for from Russia altogether, Daring Baatar, head of Rio’s copper enterprise, mentioned on the sidelines of the CERAWeek vitality convention in Houston.
“The truth is, Mongolia has two very huge highly effective neighbors, so it is fairly necessary for us to take care of wholesome, peaceable, balanced relationships,” mentioned Baatar.
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