A whistleblower repeatedly raised concerns about further delays and spiralling costs at Rio Tinto’s Mongolian copper mine, according to a report seen by The Mail on Sunday.
Richard Bowley, a former project manager with the mining giant, was submitting monthly reports to the Mongolian government about construction progress at the Oyu Tolgoi mine throughout 2022.
He separately also told members of the team at Oyu Tolgoi, which is run by Rio and the government, of his concerns.
The FTSE 100 miner is already facing a lawsuit that accuses it of fraudulently assuring investors that the mine was on plan and on budget in 2018 and 2019 – even as it was falling up to two-and-a-half years behind schedule and running as much as £1.5 billion over budget. Rio denies the claims.
But Bowley said there were still problems late last year in the run-up to a takeover deal connected to the project.
Scrutiny: The miner is already facing a lawsuit that accuses it of fraudulently assuring investors that the mine was on plan and on budget in 2018 and 2019
The revelations are included in a report titled Bad Minds Make Bad Miners, seen by the Mail on Sunday, which was submitted to the Mongolian government and details allegations of misconduct at the group made by two whistleblowers.
A spokesman for the company said: ‘Rio Tinto has not seen a copy of the report. Rio Tinto has complied with all disclosure obligations. Many of these claims are subject to ongoing litigation and are without merit.’
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