Rio Tinto notes TRQ update on Oyu Tolgoi
August 28 2020 - 5:15PM
Business Wire
Rio Tinto notes Turquoise Hill Resources’ (TRQ) publication of
its ‘2020 Oyu Tolgoi Technical Report’ (2020 OTTR) in relation to
the Oyu Tolgoi (OT) project in Mongolia. The 2020 OTTR has been
prepared and published by TRQ in compliance with their Canadian
listing obligations (National Instrument 43-101 – Standards of
Disclosure for Mineral Projects) and provides an update on
scientific and technical information related to OT. The obligation
to publish the 2020 OTTR was triggered by TRQ’s disclosure on 2
July, 2020, of updated Mineral Resources and Ore Reserves for OT,
reflecting the new mine design for Panel 0 of the underground
development.
All estimates are subject to potential changes once Rio Tinto
completes the definitive estimate, which is still expected later in
2020. Rio Tinto continues to target first sustainable production
from the OT underground project between October 2022 and June 2023
and development capital of $6.6 to $7.1 billion, based on the
updated mine design of Panel 01. These estimates remain subject to
any scheduling delays or increases in capital costs arising from
the impacts of the COVID-19 pandemic.
This announcement is authorised for release to the market by Rio
Tinto’s Group Company Secretary.
1 The level of accuracy of these estimates
is preliminary in nature and subject to a range of variables, in
line with previous guidance. The confidence level of these
estimates is at a level associated with a Pre-Feasibility Study,
and further work is required between now and the second half of
2020 to refine the mine design options and study them to a level of
confidence and accuracy associated with Feasibility Study quality
estimates.
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version on businesswire.com: https://www.businesswire.com/news/home/20200828005376/en/
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404 Category: Oyu Tolgoi
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