Oyu Tolgoi underground project to commence production in Oct 2022

Rio Tinto expects copper production to commence at Panel 0 of the Oyu Tolgoi underground copper project in Mongolia in October 2022, it said on Wednesday December 16.

The revised development capital for this phase is estimated at $6.75 billion, the Australia-listed miner said in a statement.
Three other milestones need to be finalized to ensure the project can commence caving operations in 2021, which include outstanding government approvals, funding and a power solution, Rio Tinto said.
Oyu Tolgoi, which is located in the Gobi Desert, is jointly owned by the government of Mongolia (34%) and Turquoise Hill Resources (66%).

Turquoise Hill Resources – in which Rio Tinto has a 50.8% controlling interest -...

Published

Rijuta Dey Bera

December 17, 2020

04:48 GMT

New York