Bühler GmbHTMS Awards 2023Van AalstGeneva DryCimbriaTelestack
  • TBA Group
  • Vigan
  • Van Aalst
  • TMS Awards 2023
  • Port of Stockton
  • Bühler GmbH

Oyu Tolgoi mine power agreement

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 moves to take full control of SJC Bionergia

(Posted on 07/02/25)

Cargill continues to advance its growth strategy in the Brazilian market and reinforces its investment... Read more


Anglo American completes sale of minority interest in Jellinbah for A$1.6 billion

(Posted on 31/01/25)

Anglo American plc has announced the completion of the sale of its 33.3% minority interest in Jellinbah... Read more


Rivera now MD of Cremer Erzkontor Mexico

(Posted on 30/01/25)

Rafael Rivera has been appointed the new Country Manager Mexico of the end-to-end raw materials supplier... Read more


Rio Tinto provides Iron Ore update following Tropical Cyclone Sean

(Posted on 24/01/25)

Tropical Cyclone Sean delivered record rain along parts of the Pilbara coastline of Western Australia... Read more


Rio Tinto shows greater consistency across key operations

(Posted on 19/01/25)

Rio Tinto has released fourth quarter production results. Chief Executive Jakob Stausholm said: &ldquo... Read more


Trafigura publishes 2024 Sustainability Report

(Posted on 19/01/25)

Trafigura Group Pte Ltd. has published its 2024 Sustainability Report, highlighting the Group’... Read more


NGFA comments on US East and Gulf Coast port labour deal

(Posted on 10/01/25)

The International Longshoremen’s Association and the United States Maritime Alliance, Ltd. have... Read more


Vitol completes acquisition of Noble Resources

(Posted on 07/01/25)

Further to the announcement of 2nd August 2024, Vitol B.V.  has now completed the acquisition of... Read more


Rio Tinto progresses development of Quebec gallium extraction process

(Posted on 17/12/24)

As part of a research and development programme, Rio Tinto is assessing the potential for extracting... Read more


Trafigura publishes 2024 Annual Results

(Posted on 17/12/24)

Trafigura Group Pte Ltd, a market leader in the global commodities industry, has released results for... Read more


Port of South LouisianaPort of StocktonViganTBA GroupSailors Society
  • Cimbria
  • Sailors Society
  • Port of South Louisiana
  • Telestack

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping