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Mongolia laments Rio Tinto's 'diminished' Oyu Tolgoi project


Mongolia laments Rio Tinto s diminished Oyu Tolgoi project
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The Mongolian Government has expressed great concern at the diminished prospectivity of Rio Tinto s Oyu Tolgoi copper project, after the multinational miner delivered its final verdict on the size of its cost and schedule blow outs.
Rio announced on Wednesday evening that work to triple production of copper at Oyu Tolgoi would cost $US6.75 billion ($9 billion), a disclosure that means the project cost has blown out by $US1.45 billion.
Sustainable first production will be achieved in October 2022, close to 22 months later than was envisaged when the project was launched in 2015.
Wednesday s forecast was Rio s definitive estimate of the blow outs and comes 26 months after first indications were given to investors that the project was not going to plan because of weaker than expected geology and project management issues. ....

United Arab Emirates , Chimediin Saikhanbileg , Oyu Tolgoi , Jean Sebastien Jacques , Rio Tinto , Erdenes Oyu Tolgoi , United Nations , Mineral Resources Professional Council , Turquoise Hill Resources , Mongolian Government , Turquoise Hill , Mongolian Prime Minister Chimediin Saikhanbileg , Resources Professional , ஒன்றுபட்டது அரபு அமீரகங்கள் , ஜீன் செபாஸ்டியன் ஜாக்ஸ் , ரியோ டின்டோ , ஒன்றுபட்டது நாடுகள் , தாது வளங்கள் ப்ரொஃபெஶநல் சபை , டர்க்கைஸ் மலை வளங்கள் , மங்கோலியன் அரசு , டர்க்கைஸ் மலை , வளங்கள் ப்ரொஃபெஶநல் ,