Oyu Tolgoi mine power agreement
(Posted on 30/06/20)
Rio Tinto, Turquoise Hill and the Government of Mongolia have reached an agreement on the preferred domestic power solution for Oyu Tolgoi that paves the way for the Government to fund and construct a State Owned Power Plant at Tavan Tolgoi.
The agreement, which is a revision of the Power Source Framework Agreement (PSFA) signed in 2018, states that the Parties will work towards finalising a Power Purchase Agreement by the end of March 2021. In addition, the amended PSFA sets a proposed timetable for development, with construction of the coal-fired power plant set to begin no later than 1 July 2021, and commissioning within four years thereafter.
Oyu Tolgoi currently uses imported power and both the Government of Mongolia and Oyu Tolgoi have committed to extending the current arrangement to ensure continued stable power is supplied to the mine and underground project until the State Owned Power Plant is commissioned and is able to supply stable, reliable and continuous power.
Arnaud Soirat, Copper & Diamonds chief executive, said, “This agreement provides a potential pathway to securing a domestic power supply for the Oyu Tolgoi mine and underground project for the benefit of all shareholders and the wider community. We look forward to working with the Government of Mongolia to progress the solution.”
Latest News
Cargill surpasses one million enrolled acres in Cargill RegenConnect
(Posted on 20/11/24)Cargill RegenConnect has surpassed one million enrolled acres for the 2025 U.S. planting season, a milestone... Read more
Agreements to accelerate decarbonisation of steelmaking in Europe
(Posted on 20/11/24)Rio Tinto has entered into definitive agreements with GravitHy, an early-stage industrial company, to... Read more
Partnership to trial battery swap technology in mine operations
(Posted on 12/11/24)Rio Tinto will partner with China’s State Power Investment Corporation (SPIC) to demonstrate battery... Read more
Colombian nature-based carbon removals project is expanded
(Posted on 12/11/24)Trafigura Group, a market leader in the global commodities industry, has announced a significant expansion... Read more
Rio Tinto completes acquisition of Sumitomo stake in NZAS
(Posted on 04/11/24)Rio Tinto’s previously announced acquisition of Sumitomo Chemical Company’s (SCC’s... Read more
Vale and Jinnan announce investment in Oman iron ore concentration plant
(Posted on 31/10/24)Vale and Jinnan Iron & Steel Group, a renowned Chinese steelmaker, have announced a joint partnership... Read more
Canadian tariffs on Chinese steel and aluminium products enter into force
(Posted on 26/10/24)Tariffs on Chinese steel and aluminium products have entered into force following rigorous examination... Read more
Increased copper and iron ore production for BHP
(Posted on 19/10/24)BHP have released their operational review for the quarter ended 30 September 2024.BHP Chief Executive... Read more
Safety a priority as Rio Tinto releases Q3 production results
(Posted on 18/10/24)Rio Tinto is continuing to prioritise learning from safety incidents to improve the effectiveness of... Read more
IFA and Proba launch global programme for GHG emissions reduction
(Posted on 14/10/24)The International Fertilizer Association (IFA) is partnering with supply chain decarbonization startup... Read more
