Fresh Mongolia turmoil raises stakes for Rio Tinto’s copper bet – by Jessica Sier (Australian Financial Review – June 3, 2025)

https://www.afr.com/

Tokyo | Mongolia’s prime minister was ousted from power on Tuesday in a dramatic no-confidence vote, sparking fresh political uncertainty that raises questions over the future of Rio Tinto’s massive copper mine expansion in the country.

Oyun-Erdene Luvsannamsrai was forced to resign after falling well short of the 64 votes he needed from lawmakers, Mongolian media reported. The vote was triggered by a corruption scandal involving Oyun-Erdene’s son and public anger over his lavish lifestyle that included weeks of mounting street protests demanding greater transparency or his resignation.

Opposition groups hailed the result as a win for accountability and civil society in Mongolia – a former communist state that has been transforming into a democracy. “Parliament once served as a check on the executive,” said Batsugar Tsedendamba, a political researcher at the Independent Research Institute of Mongolia. “Under the grand coalition, oversight was gutted. Parliament became an instrument of the powerful, not the people.”

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