Rio Tinto Announces Latest Stage in Oyu Tolgoi Project
May 06 2016 - 4:00AM
Dow Jones News
LONDON—Rio Tinto PLC Friday announced a new stage of development
at the Oyu Tolgoi copper and gold mine in Mongolia, paving the way
for production to start in 2020.
The London-listed mining giant and its partners, the Mongolian
government and Turquoise Hill Resources Ltd, have approved the next
stage of development on the mine, which will start in mid-2016, Rio
said. The development involves $5.3 billion of investment by the
partners, Rio Tinto continued.
In addition to the Oyu Tolgoi project, Rio Tinto will assess a
proposal to develop a new iron-ore mine in Western Australia,
called Silvergrass, "in the relative near-term" according to
outgoing Chief Executive Sam Walsh.
Write to Rory Gallivan at rory.gallivan@wsj.com
(END) Dow Jones Newswires
May 06, 2016 03:45 ET (07:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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