Rio Tinto's Mongolian problem

Morgan Stanley says the underground development of the miner's Mongolian copper project may take time.

Morgan Stanley says the delay on the underground development by Rio Tinto at its Oyu Tolgoi copper mine in Mongolia “might take some time”. The financing secured for the project will need to be approved by the Mongolian parliament. And parliament is in summer recess.

The delay in underground development at Oyu Tolgoi is unlikely to impact Rio’s planned phase one shipments, which are from the open pit section of the mine, Morgan Stanley analyst Brendan Fitzpatrick says.

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