Rio Tinto PLC Rio Tinto progresses Oyu Tolgoi power options (2751D)
18 Febrero 2020 - 01:00AM
UK Regulatory
TIDMRIO
RNS Number : 2751D
Rio Tinto PLC
18 February 2020
Rio Tinto progresses Oyu Tolgoi power options
17 February 2020
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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Grant Donald
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Investor Relations, United Kingdom Investor Relations, Australia
Menno Sanderse Natalie Worley
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David Ovington Amar Jambaa
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Rio Tinto plc Rio Tinto Limited
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--------------------------------
This announcement is authorised for release to the market by
Steve Allen, Rio Tinto's Group Company Secretary.
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END
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