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
SSAB postpones commissioning of new steel mill in Luleå by 12 months
(Posted on 20/06/25)SSAB has commenced preparatory work to build a new, state-of-the-art steel mill in Luleå, Sweden... Read more
Anglo American streamlines leadership team to reflect portfolio progress
(Posted on 20/06/25)Anglo American plc has streamlined its executive leadership team to reflect substantial progress with... Read more
NeoSmelt welcomes Government support for steel decarbonisation project
(Posted on 20/06/25)NeoSmelt, a consortium of leading resources, energy and manufacturing companies working together on... Read more
Telestack announces new iron ore project
(Posted on 16/06/25)Northern Ireland based Telestack have announced that they have been awarded a contract for the supply... Read more
Bühler opens grain puffing technology centre
(Posted on 15/06/25)Bühler has opened its new Puffing Application Center in Uzwil, Switzerland, providing food... Read more
Ore sorting demonstration project at Havre-Saint-Pierre mine launched
(Posted on 15/06/25)Rio Tinto is investing CA$7.6 million in an industrial demonstration project to assess the integration... Read more
Bühler sets new global standard with state-of-the-art Milling Academy
(Posted on 15/06/25)Bühler has opened a new, state-of-the-art Milling Academy – a 1,800-square-meter training... Read more
Anglo American completes demerger of Valterra Platinum
(Posted on 06/06/25)Anglo American plc has announced that it has completed the demerger of c.51% of the Company’s... Read more
Western Range iron ore mine in Pilbara opened with Yinhawangka owners
(Posted on 06/06/25)Rio Tinto has officially opened its newest iron ore mine, Western Range, with Western Australian Premier... Read more
Heidelberg presents Strategy 2030 to accelerate profitable growth
(Posted on 02/06/25)Heidelberg Materials has presented its “Strategy 2030: Making a Material Difference” at... Read more
