Rio Tinto progresses Oyu Tolgoi power options
February 17 2020 - 5:04PM
Business Wire
Rio Tinto continues to progress options to secure domestically
sourced power for the Oyu Tolgoi copper mine in Mongolia, which it
is obliged to do by 30 June 2023 under the 2009 Investment
Agreement (IA) between Turquoise Hill, the Government of Mongolia
and Rio Tinto and subsequent Power Sector Framework Agreement,
signed in 2018.
In compliance with these agreements, Oyu Tolgoi LLC today
submitted to the Government of Mongolia a Feasibility Study for the
Tavan Tolgoi Power Plant (TTPP) Project, which involves building a
300 MW coal power plant. In parallel with the TTPP Project, and in
consultation with the Government of Mongolia, Rio Tinto is also
progressing alternative options to source domestic power, including
a renewable power component.
Rio Tinto Copper & Diamonds chief executive Arnaud Soirat
said “Rio Tinto, Turquoise Hill and the Government of Mongolia are
all committed to securing a reliable and long term domestic power
source for the Oyu Tolgoi mine and are working together to achieve
this”.
The TTPP Feasibility Study envisages a 300 MW power plant with a
project cost estimate of around $924 million. This is already
included in the group capex guidance of $7 billion in 2020 and $6.5
billion each in 2021 and 2022.
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Secretary. Category: Oyu Tolgoi
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