Rio Agrees to Pay $139 Million To Settle Mongolian Mine Dispute

Rio Tinto Group has agreed to pay $138.75 million to settle a lawsuit that accused the miner of hiding problems from investors at its giant copper mine in Mongolia.

The plaintiffs, led by Pentwater Capital Management, alleged the world’s second-biggest miner held back information on the Oyu Tolgoi underground expansion from investors as costs ballooned and it fell behind schedule.

The Oyu Tolgoi mine is Rio’s flagship copper mine — a commodity favored by investors — and central to the company’s plans to become less dependent on its giant iron ore business. Yet the development of the project was ...