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 -...