Rio Tinto cuts about 2,000 jobs at Oyu Tolgoi — report
Long-running dispute between the Mongolian government and Rio over the massive copper-gold mine continues to drag on.
Long-running dispute between the Mongolian government and Rio over the massive copper-gold mine continues to drag on.
The world’s No. 3 gold producer, will cut about 40% of its management positions and it is cutting capital expenditure in 10 countries.
"It's the only reason people come out here, I am pretty sure. I think if they say something else they are lying."
Measure only affects temporary construction workforce providing administrative, advisory and mining services.
The OECD Employment Outlook analyses labour markets of 34 of the world's most developed nations.
A new Employee Benefit Trust will run the new business and the Daw Mill mine will see its remaining coal deposit transferred to the Coal Authority.
"Growing resource nationalism in many parts of the world makes Europe more attractive from a political risk point of view."
Gold spot price was down slightly on Thursday to $1,248 - a o.3% loss from Wednesday's close - and trading volume waned as investors await US jobs data.
Mostly affecting the country's coal sector, which lost over 1,000 jobs last week alone.