Development will begin within months, and first production from the underground expansion will come in. Currently, an openpit mine, the construction of oyu tolgoi began in 20 and required less than two years to be. This is an example of a very long powerpoint presentation title. In the middle of the harsh gobi desert mongolia, teaming up with a bunch of amazing people of different continents to build, commission and ramp up rio tintos oyu tolgoi copper mine and. Dec 17, 20 in the middle of the harsh gobi desert mongolia, teaming up with a bunch of amazing people of different continents to build, commission and ramp up rio tinto s oyu tolgoi copper mine and. Dampier salt limited, located in western australia and comprising three solar salt operations dampier, port hedland and lake macleod is the worlds largest exporter of seaborne salt. Oyu tolgoi is a massive porphyry coppergold deposit under development in mongolia now operated by rio tinto. Rio tinto plc rio q4 2019 earnings call transcript the motley fool. Cameron mcrae, chief executive of rio tintos oyu tolgoi operations, says there have been huge.
Rio has finally managed to resolve the issue of power supply to oyu tolgoi, its flagship mongolian coppergold mine. May 19, 2015 two years of delay and disagreements are over. Rio tinto is also building and operating the mine, located around 80 kilometres from mongolias southern border. By julian dierkes rio tintos response to the somo report claims that the convoluted corporate structure that has been created for oyu tolgoi is not aimed at saving taxes, but rather at reducing investment risk. Rio tinto and mongolia have agreed to restart expansion of the giant oyu tolgoi copper mine. Oyu tolgoi llc said nothing had changed from previous statements that it was expecting first exports before the end of june. How its made underground development of oyu tolgoi. Oyu tolgoi mining company ulaanbaatar, mongolia 8,612. At rio tintos 2017 agm, i was impressed by the energy of the companys. May 12, 2020 rio tinto says progresses oyu tolgoi power options. Rio tinto may feel the impact of the coronavirus in on demand for its products in the first quarter due to the significant nearterm uncertainty that the virus has the potential to create.
May 06, 2016 rio tinto s oyu tolgoi mine is one of the worlds richest copper deposits. Rio is facing a fresh setback at its massive oyu tolgoi underground copper project in mongolia as an administrative court has backed a nongovernmental organizations claims that the government didnt follow due process on the agreement that underpins the assets development. Startup of the mine, the biggest in the country, is being closely watched by other companies and investors in mongolia, who have been rattled over the past year by new regulations and. In march 20, new internationalist magazine carried an article on mining in mongolia, including information about the oyu tolgoi project but it did not mention that activity at the mine is controlled and operated by britishbased mining multinational rio tinto, which has a history of involvement in projects associated with environmental destruction and abuse of workers rights. Dividing up mongolias mining riches from oyu tolgoi. Oyu tolgoi was one of the last great unmined deposits in the world, and, once operation were in full swing, was probable to stand for around a tenth of the profits of rio tinto and over a quarter of mongolias gdp. Oyu tolgoi very large copper and gold mine, rio tinto, mongolia.
Rio tinto faces fresh legal setback at oyu tolgoi mine. Rio tinto says investors to take stance on oyu tolgoi as. The oyu tolgoi ot mine is located in southern mongolia and owned by oyu tolgoi llc ot llc which is a partnership that is owned 34% by the government of mongolia and 66% by turquoise hill resources, 51% a controlling interest is owned by rio tinto. To help combat the spread of covid19 in remote communities in western australia, northern territory and queensland, rio tinto has partnered with perthbased freight and logistics provider matic transport to donate 6,000 litres of hand cleaning products.
More than 80% of oyu tolgoi s total value lies deep underground. Rio tinto is the metal provider for the 4,700 medals handed out at the london 2012 olympics and paralympics. Micromine has implemented its leading fleet management and mine control solution, pitram, at the oyu tolgoi coppergold mine in the south gobi region of mongolia. The project consisted of openpit and underground mines, a copper concentrator, and supporting infrastructure to produce highquality coppergold concentrate. Mar 29, 2018 a free inside look at oyu tolgoi salary trends based on 1 salaries wages for 1 jobs at oyu tolgoi. Rio tinto expects coronavirus impact on q1 demand, supply. Rio tintos development of copper and gold deposit oyu tolgoi withthrough ivanhoe is the first major foreign investment project in the country, which appears to go smoothly so far. He also said that rio tinto was putting money into mongolia without getting. Mongolias prime minister is urging mining giant rio tinto lon. Apr 04, 20 in march 20, new internationalist magazine carried an article on mining in mongolia, including information about the oyu tolgoi project but it did not mention that activity at the mine is controlled and operated by britishbased mining multinational rio tinto, which has a history of involvement in projects associated with environmental destruction and abuse of workers rights. Turquoise hill eyes legal clarity for oyu tolgoi expansion the. The three stateowned contractors china machinery engineering corp, harbin electric international co ltd and power construction.
In the first half, we recognized an impairment related to oyu tolgoi, and at the yearend. Rio tinto plc history, profile and history video rio tinto plc is engaged in the business of finding, mining and processing of mineral resources. Rio tintos turquoise hill resources is the majority owner of oyu tolgoi llc, which will lead construction of an underground mine at the site of the existing openpit operation. How the rio tinto oyu tolgoi deal affects copper mining. The expanded oyu tolgoi should boost the copper and gold production of rio tinto significantly. Jun 14, 20 the opening of oyu tolgoi is vital for mongolia as it is expected to make up a third of the countrys economy by 2020. Oyu tolgois board, including 3 new mongolian members, approved the appointment of craig kinnell as president and ceo, replacing cameron mcrae from oct. Rio tinto and the oyu tolgoi mine new internationalist. Mongolia wants to resolve mine dispute with rio tinto by. See the complete profile on linkedin and discover gregs connections. It is also one of the most modern, safe and sustainable operations in the world. Apr 06, 2015 the news is positive for rio tinto as it tries to diversify its production.
The oyu tolgoi mine is a combined open pit and underground mining project in the gobi desert, approximately 235 kilometres east of the omnogovi province capital dalanzadgad. Land of genghis khan to become global copper superpower after mega deal to build giant underground oyu tolgoi mine. Oyu tolgoi is 66 percentowned by rio tintos turquoise hill resources unit. Rio tinto is operator at the oyu tolgoi copper mine in southern mongolia, and. Slideshow rio tinto agrees to invest in mongolias oyu. Entree resources investor presentation march 2020 2. Rio, mongolia agree to restart oyu tolgoi development bloomberg. Oyu tolgoi is one of the most exciting developments in copper and gold mining in the last several decades. Mar 27, 20 dividing up mongolias mining riches from oyu tolgoi. An improved outlook for copper and gold has helped add us1. Micromine has implemented its fleetmanagement and minecontrol solution, pitram, at the oyu tolgoi coppergold mine in the south gobi region of mongolia. In early 2010 global mining company rio tinto owned 22. Update on oyu tolgoi underground project rio tinto. Dividing up mongolias mining riches from oyu tolgoi bbc.
Rio tinto is a mining and metals company operating in about 36 countries around the world products. Oyu tolgoi, located in the desolate south gobi desert, is one of the worlds richest copper deposits and is considered a key growth asset for rio tinto. Rio, mongolia agree to restart oyu tolgoi development. The oyu tolgoi expansion is rio s most important growth project and will increase its. Rio tinto is managing the development of oyu tolgoi and owns a 51% stake in turquoise hill, which in turn holds a 66% stake in the project to the mongolian governments 34% interest. Oyu tolgois board, including 3 new mongolian members, approved the appointment of craig kinnell as president and ceo, replacing cameron mcrae. Rio tintos top copper marketing exec will take over as the head of the giant riocontrolled mongolian oyu tolgoi coppergold mine. Rio tinto said it 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 between turquoise hill, the government of. Oyu tolgoi power supply agreement a breakthrough for rio tinto.
Pitram software in use at oyu tolgoi mining magazine. Preparations are underway to mine this ore using underground mining technics. Ivanhoe mines and rio tinto, two of the worlds leading mining companies, and the mongolian government formed a strategic partnership for construction and operation of the oyu tolgoi project. Aug 01, 2018 2018 half yearresults 1 august 2018 london 2 cautionary statements this presentation has been prepared by rio tinto plc and rio tinto limited rio tinto. The site was discovered in 2001 and is being developed as a joint venture between turquoise hill resources, rio tinto and the government of mongolia. The mine is also a crucial source of growth for operator rio tinto as it aims to ease its dependence on iron ore and cast off small or unprofitable assets. At the time rio tinto had the option of increasing their stake to 46. An integrated development plan idp suggests that the oyu tolgoi mine will be capable of average annual production in excess of one billion pounds of copper and 330,000oz of gold for at least 35 years. The oyu tolgoi copper mine in mongolia is a worldclass open pit mine and underground project. In its thirdquarter results presentation, the company acknowledges financing. Salaries posted anonymously by oyu tolgoi employees.
About we produce iron ore for steel, aluminium for cars and smart phones, copper for wind turbines, diamonds that set the standard for responsible, titanium for household products and borates for crops that feed the world. Rio tinto progresses oyu tolgoi power options londonbusiness wire 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. The news is positive for rio tinto as it tries to diversify its production. Rio tinto donates 6,000 litres of hand cleaning products to remote communities. Rio tinto in legal battle with former manager over giant.
Rio tintos oyu tolgoi copper project commissioning crew. Dividing up mongolias mining riches from oyu tolgoi bbc news. Land of genghis khan to become global copper superpower after. Jan 29, 2012 rio tintos development of copper and gold deposit oyu tolgoi withthrough ivanhoe is the first major foreign investment project in the country, which appears to go smoothly so far. Rio tinto in legal battle with former manager over giant copper mine. Partner in world class oyu tolgoi underground coppergold mine. Rio tinto progresses oyu tolgoi power options morningstar. Rio tintos shareholder chinalco has repeatedly indicated it would like to take part in the project, but has been kept out by rio tinto to date. At our bauxite mine in weipa, special mathematical software helps our port schedulers manage hundreds of ships a year. Owned by turquoise hill, rio tinto and the government of mongolia, oyu tolgoi recommenced its underground development in 2016. Rio tinto and the government of mongolia, oyu tolgoi recommenced its underground development in 2016. Rio tintos oyu tolgoi project 94% complete marketwatch. Our gove operations have been supplying the global aluminium industry with. Rio signs up three chinese epc contractors for oyu tolgoi.
Rio tinto to cut 1,700 jobs at oyu tolgoi mine wsj. Rio tinto is today providing an update on the schedule and cost of the oyu tolgoi underground project the project in mongolia. Rio tinto defers oyu tolgoi shipments midas letter. Greg field project director resolution copper linkedin. Rio tinto says progresses oyu tolgoi power options. Rio tinto, which has a 51% stake in turquoise hill resources, has been operating and managing the development of the oyo tolgoi mine since 2010. Mongolia to be transformed by giant rio tinto copper mine. Mongolia wants rio to speed up oyu tolgoi expansion. The aluminium product group produces bauxite, alumina and primary aluminum production. Rio tinto upbeat on oyu tolgoi expansion the australian.
In 20, rio tinto was anticipated to start commercial shipments from oyu tolgoi, a copper and gold mine in the gobi desert of mongolia. Development will begin within months, and first production from the underground expansion will come in 2020, when. The project continued to progress in 2019 towards its path to become one of the largest copper mines in the world. Tools, oyu tolgoi copper and gold mine, southern mongolia. Jul 27, 2015 rio tintos turquoise hill resources is the majority owner of oyu tolgoi llc, which will lead construction of an underground mine at the site of the existing openpit operation. Im a port truck driver at cal cartage express in california.
A free inside look at oyu tolgoi salary trends based on 1 salaries wages for 1 jobs at oyu tolgoi. Rio tinto signs oyu tolgoi deal with mongolia bloomberg. Tavan tolgoi, the second largest coal deposit in the world, sits in the south gobi desert, close to the border with china. Nov 21, 20 oyu tolgoi is 66 percentowned by rio tintos turquoise hill resources unit. Micromine implements its fleet management and mine control. The best ore up to 80 per cent of the value of the project lies deep below the surface. Ivanhoe mines oyu tolgoi copper mine construction fluor. How its made underground development of oyu tolgoi llc. Rio tinto has entered into agreements with three chinese epc contractors that could potentially solve the companys domestic power challenge at its majorityowned oyu tolgoi coppergold operation in mongolia. Enthusiastic report on the project by rio tinto, on one of the main copper mines in the world. At the close of 2015, the leading global mining group rio tinto and a group of partnering investors celebrated christmas with a beefy stocking stuffer.
The worlds second largest miner rio tinto asx, lon, nyse. Oyu tolgoi very large copper and gold mine, rio tinto. For those who havent got the chance to see the programme, here it is with english. Feb 04, 2018 how its made tv programme on education tv featured the underground development of oyu tolgoi llc. We are building an underground mine complex, using blockcaving mining techniques to extract the ore and transport it to the surface. The metal for the medals comes from rio tintos centuryold kennecott utah copper mine in bingham canyon, u. Sep 17, 2015 oyu tolgoi, located in the desolate south gobi desert, is one of the worlds richest copper deposits and is considered a key growth asset for rio tinto. The rio tinto managed oyu tolgoi says its confident that disputes which have stalled the construction of the giant copper and gold mine in mongolia can be resolved. View greg fields profile on linkedin, the worlds largest professional community. Rio tintos oyu tolgoi mine is one of the worlds richest copper deposits. Rio and its vancouverbased subsidiary turquoise hill tse.
7 450 1442 790 28 331 608 1529 194 467 1351 105 850 53 1556 781 184 1526 1543 933 454 56 827 68 490 1222 1525 1398 1365 195 8 826 564 394 167 348 287 1492 874 753 414 537 619 161 485 592 887 350