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Rio Tinto Notes Oyu Tolgoi Mine Design Confirms Project Schedule and Cost Ranges and Update to Ore Reserves and Mineral Resources

03 Jul 2020  |  08:27:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Oyu Tolgoi mine design and update to Reserves and Resources

Rio Tinto noted that Oyu Tolgoi announced that it has completed an updated feasibility study (OTFS20) and is in the process of submitting this to the Government of Mongolia. The OTFS20 has been prepared in accordance with Mongolian regulations and standards which require mining companies to submit updated feasibility studies every five years. The new design also confirms that the caving method of mining remains valid and that the underground schedule and costs remain within the ranges previously disclosed. These ranges include a delay of 21 to 29 months for first sustainable production compared to the original feasibility study guidance in 2016 and an increase of $1.3bn to $1.8bn from the original $5.3bn development capital.

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