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Rio Tinto pledges to invest in Mongolia copper mine this year -Mongolia PM

Reuters - UK Focus

June 26 (Reuters) - Mining company Rio Tinto Ltd has pledged to invest at least $250 million to $300 million in the construction of the underground section of the massive Oyu Tolgoi copper and gold mine in Mongolia this year, Mongolia's prime minister said on Friday.

The second phase of construction at the mine is expected to begin this year, Prime Minister Chimed Saikhanbileg told Reuters in an interview, marking progress for the long-stalled $5 billion mine that is expected to boost Mongolia's economy by a third when it reaches full capacity in 2021. (Reporting by Luc Cohen in New York; Editing by Lisa Shumaker)