Market Chatter: Mongolian Government Accuses Rio Tinto Group of Bribery, Corruption

MT Newswires Live
05/26

Rio Tinto Group (ASX:RIO) has been accused of political bribery in a secret lawsuit involving its Oyu Tolgoi copper mine in Mongolia, the Australian Financial Review reported Sunday, citing details obtained on the allegations filed on May 20.

The dispute has persisted for nearly two decades, with company and Mongolian officials squabbling over the mine's wealth, AFR reported.

The Mongolian government's decision to file the lawsuit in a British court suggests the tension has not been resolved despite outgoing Chief Executive Jakob Stausholm spending nearly AU$8.5 billion on buying out minority shareholders and waiving government debts.

The lawsuit aims to force the company to produce evidence, helping Mongolia argue its case in the arbitration, the report said.

While Mongolian authorities directly accuse the company and its subsidiaries of corruption and bribery, there is no suggestion that Stausholm was involved in the incidents, which took place between 2008 and 2012, or that the lawsuit led to his resignation, according to the report.

Rio Tinto did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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