Rio Tinto seeks arbitration to resolve Mongolian tax dispute

Published: Feb 24, 2020 08:32

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[Rio Tinto seeks arbitration to resolve the Mongolian tax dispute] Rio Tinto said its Oyu Tolgoi branch in Mongolia had sought international arbitration to resolve the tax dispute with the Mongolian tax authorities.

SMM2, March 24: recently, Rio Tinto said that in order to resolve the tax dispute with the Mongolian tax authorities, its Oyu Tolgoi branch in Mongolia has sought international arbitration.

It is reported that the Mongolian tax authorities issued a total of $155 million in tax assessment reports on Oyu Tolgoi's taxes payable between 2013 and 2015 in 2018, but Oyu Tolgoi paid only $4.8 million.

Arnaud Soirat, chief executive of Rio Tinto's copper and diamond division, said they had difficult negotiations with the Mongolian government and the Mongolian tax authorities and concluded that international arbitration was the best solution.

The Oyu Tolgoi mine is owned by the Mongolian government (34 per cent) and Turquoise Hill (66 per cent, of which Rio Tinto (Rio Tinto) owns 51 per cent).

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Rio Tinto Mongolia taxes

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