Golden promises and unpaid bills: a story of stolen public money in Mongolia
Oyu Tolgoi is one of the most important mining asset located in Mongolia. For decades, the company Rio Tinto have operated the mine without paying any royalty to the Mongolian government. This report explores and expose why and how.
SOMO and Oyu Tolgoi Watch have published a report about how the mining giant Rio Tinto, and its Canadian subsidiary Turquoise Hill Resources, avoided nearly $470 million in Canadian taxes by using mailbox companies in two tax havens, Luxembourg and the Netherlands. The publication also shows how an abusive investment agreement covering the Oyu Tolgoi copper and gold mine has resulted in a $230 million tax revenue loss for Mongolia.
See the full report here.