From Yahoo Finance: 2025-06-18 17:36:00

Rio Tinto has agreed to pay $138.75 million to settle a lawsuit alleging fraud in its Oyu Tolgoi mine expansion in Mongolia. The settlement, filed in U.S. District Court, seeks damages for shareholders of Turquoise Hill Resources. Former CEO Jean-Sebastien Jacques, who stepped down in 2021, was also named in the lawsuit. The settlement aims to eliminate the uncertainty and cost of litigation. Rio Tinto denies wrongdoing but settled on reasonable terms. The lawsuit stemmed from claims of project delays and cost overruns. Rio Tinto fully integrated the mine into its portfolio in 2022. Legal fees for shareholders could reach $18 million.



Read more at Yahoo Finance: Rio Tinto reaches $138.75 million settlement over Mongolian mine