Rio opens new exploration office in Mongolian capital

Rio Tinto will set up a new office in the Mongolian capital, separate from its giant Oyu Tolgoi project, to focus on exploration and local ties, strengthening its commitment to one of the world’s greatest copper prospects.

The new office, which will expand to 80 staff over the course of this year, will support the company’s exploration programme, as well as focusing on building relationships, the miner said in a statement on Monday.

“We are demonstrating the deepening of our commitment to Mongolia through the establishment of a new country office under new Mongolian leadership,” Rio Tinto Chief Executive Jean-Sebastien Jacques said.

“Mongolia is one of Rio Tinto’s most strategically important markets and we are here to stay,” Jacques said, adding Rio had invested more than $7 billion in Mongolia since 2010, including salaries, supplier payments, and taxes and royalties.