Mongolian president wants greater control of Rio Tinto project, Bloomberg says Mongoliaís President Tsakhia Elbegdorj said the nation should have more control of Rio Tinto Groupís (RIO) Oyu Tolgoi copper and gold project after the government said costs had increased to $24.4B, reports Bloomberg. Rioís earlier estimate for total cost was $14.6B, according to a government statement. Reference Link
Rio Tinto halts progressive dividend policy due to market uncertainty With the continuing uncertain market outlook, the board believes that maintaining the current progressive dividend policy would constrain the business and act against shareholders' long-term interests. The company is therefore replacing the progressive dividend policy with a more flexible approach that will allow the distribution of returns reflect better the company's position and outlook. For 2016, Rio Tinto intends that the full year dividend will not be less than $1.10 per share.