Rio Tinto to help Mongolia tackle climate change, desertification

The Rio Tinto brand is displayed on a customer’s helmet at a borates mine in Boron, California, U.S., November 15, 2019. REUTERS/Patrick T. Fallon

June 24 (Reuters) – Rio Tinto Ltd (RIO.AX) on Friday signed an settlement with Mongolia’s atmosphere ministry to handle local weather change and desertification points within the nation the place the worldwide miner operates the large Oyu Tolgoi copper mine.

Between 2022 and 2026, the Anglo-American miner’s native unit will assist the east Asian nation sort out its nationwide local weather change commitments, because the area faces growing variety of pure and local weather disasters, together with forest fires and droughts.

Oyu Tolgoi is without doubt one of the world’s largest-known copper and gold deposits positioned within the South Gobi area of Mongolia, a land-locked nation between China and Russia susceptible to earthquakes and pure disasters.

Turquoise Hill Sources (TRQ.TO) holds a 66% stake within the mine, with the remaining 34% curiosity owned by the Mongolian authorities. Rio Tinto has a 51% stake in Turquoise and is vying for the complete management of the Canadian miner.

Whereas the worldwide common temperature has warmed by 0.86 diploma Celsius (33.548 Fahrenheit) within the final century, Mongolia’s common temperature has risen by 2.25С within the final 80 years, Rio stated in an announcement.

Rio Tinto’s native unit, the Ministry of Surroundings and Tourism of Mongolia will set up a joint crew to develop and execute tasks to sort out local weather change and desertification. The crew may even to an extent implement 2030 sustainable improvement objectives.

Reporting by Sameer Manekar in Bengaluru; Modifying by Amy Caren Daniel

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