[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.]
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Folks, this is VERY serious/positive news! Big Picture, this commitment far overshadows the recent hiccups.
I will have plenty more commentary soon. I'm in Vancouver and checked in with management multiple times at the VRIC conference, and will see a technical presentation from Andrew Stewart on Wednesday for AME RoundUp. I think the company is extremely well positioned for 2018.
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(20min delay)