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Rio Tinto, Mongolia resolve issues over $6.925B Oyu Tolgoi copper project; underground operations to start

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Rio Tinto, Turquoise Hill Resources (TRQ) and the Government of Mongolia have reached an agreement that will move the Oyu Tolgoi (OT) copper mine project ( earlier post ) forward, resetting the relationship between the partners and increasing the value the project delivers for Mongolia.

Mongolia 150
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Rio Tinto begins underground production at Oyu Tolgoi; 4th largest copper mine in world by 2030

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Rio Tinto has begun underground production from the Oyu Tolgoi copper mine in the Gobi Desert. Ore is currently being processed from Panel Zero in Hugo North Lift 1 and production will ramp up over the coming years. Earlier post.) The total workforce of Oyu Tolgoi is currently around 20,000 people, of which 97% are Mongolian.

Mongolia 170
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Rio Tinto confirms $6.75B development capital for Oyu Tolgoi underground; production by Oct 2022

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Rio Tinto unveiled a pathway for the ongoing development of the underground project at Oyu Tolgoi in Mongolia, one of the largest known copper and gold deposits in the world ( earlier post ). At full production, the underground mine will produce 95 thousand tonnes of ore each day. billion and $7.2

Mongolia 243
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Rio Tinto completes acquisition of Turquoise Hill for $3.1B

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billion, simplifying the ownership of the world-class Oyu Tolgoi mine in Mongolia, significantly strengthening Rio Tinto’s copper portfolio, and demonstrating its long-term commitment to the project and Mongolia. Rio Tinto has completed its acquisition of Turquoise Hill Resources Ltd for a consideration of approximately $3.1

Mongolia 218
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Topsoe to provide technology for first commercial size dynamic green ammonia plant in China

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The first phase will have a capacity of 1800 tons per day (390,000 tpa) with expected start of production in 2025. We are excited to partner with Topsoe, as they are the leading provider of technology for ammonia production and low carbon solutions in general. tons of sulfur dioxide, 3.2 tons of nitrogen oxides, and 3.2

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Rio Tinto offers $2.7B cash to buy Turquoise Hill stake in Oyu Tolgoi copper mine

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The proposal follows the comprehensive agreement reached in January between Rio Tinto, Turquoise Hill and the Government of Mongolia to move the Oyu Tolgoi (OT) project forward ( earlier post ), reset the relationship between the partners and approve commencement of underground operations. billion in cash. Rio Tinto currently owns 50.8%

Mongolia 199
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Benchmark: battery supply chain hit by Chinese energy cuts

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Benchmark Minerals reports that China’s ongoing energy shortage, which has seen local governments enforce intermittent power cuts since July 2021, has begun to affect domestic anode and cathode production as several producers were forced to scale back production in late Q3.

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