04:47 AM EDT, 03/10/2026 (MT Newswires) -- Rio Tinto (RIO) is facing pressure from Mongolia to renegotiate the commercial conditions of its Oyu Tolgoi copper project in the country, the Financial Times reported Tuesday, citing video footage and Erdenes Mongol Group Chief Executive Davaadalai Batsuuri.

Prime Minister Gombojavyn Zandanshatar warned the company's executives Monday that the terms of the current 17-year-old deal were "unfair," the publication reported, citing video footage it has seen.

Mongolia holds a 34% stake in the mine, but expected payouts were delayed until roughly 2037 due to budget excesses, prompting officials to demand the company reduce loan borrowing costs to under 6% and eliminate yearly administrative charges, the FT reported.

If negotiations between the parties don't go well, the government could hike the rate of export tax the company pays on copper exports, currently around 5%, the publication quoted Batsuuri as saying.

A Rio Tinto spokesperson told MT Newswires that the company is engaged in active negotiations with the government, adding that its goal is "working together to achieve Oyu Tolgoi's full potential for the benefit of all partners."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)