TMS Webinar Series COVID-19: A Leadership Perspective - ‘Scanning the Financial Horizons’TBA GroupCimbria Bulk Equipment A/STMS Tanker Conference 2020Port of StocktonPort of Vancouver USA
  • TMS Ship Finance & Trade Conference 2020
  • TBA Group
  • TMS Awards 2020
  • Port of Stockton
  • Sailors Society
  • Cimbria Bulk Equipment A/S

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

Oyu Tolgoi mine confirms project schedule

(Posted on 06/07/20)

Oyu Tolgoi LLC has completed an updated feasibility study (OTFS20) and is in the process of submitting... Read more


Rusal publishes sustainability report

(Posted on 06/07/20)

RUSAL, a leading global aluminium producer, has published its annual Sustainability Report on the Hong... Read more


Cargill joins decarbonising research centre

(Posted on 30/06/20)

Cargill has joined leading players across the global maritime industry to launch the Maersk Mc-Kinney... Read more


ADM to expand corn processing complex

(Posted on 25/06/20)

To help meet continuing high demand for hand sanitizer, ADM has announced it is significantly increasing... Read more


Support for U.S. Grains Act

(Posted on 25/06/20)

The National Grain and Feed Association (NGFA) in the USA and North American Export Grain Association... Read more


Rio Tinto announces board-led heritage review

(Posted on 19/06/20)

Rio Tinto has launched a board-led review of its heritage management processes within Iron Ore following... Read more


WCA responds to India coal auctions

(Posted on 19/06/20)

Statement from Michelle Manook, World Coal Association Chief Executive:“The World Coal Association... Read more


Rusal launches new foundry complex

(Posted on 18/06/20)

RUSAL, a leading global aluminium producer, has announced the commissioning of a new foundry complex... Read more


World steel demand to shrink 6.4%

(Posted on 15/06/20)

The World Steel Association (worldsteel) has released its Short Range Outlook (SRO) for 2020 and 2021... Read more


Rusal tests new inert anode pot

(Posted on 12/06/20)

RUSAL , a leading global aluminium producer, has announced that it has commenced testing operations... Read more


ViganTelestackThe Wolfson Centre for Bulk Solids Handling Technology TMS Ship Finance & Trade Conference 2020TMS Awards 2020Bühler GmbH
  • Bühler GmbH
  • Port of Vancouver USA
  • Cleveland Cascades Ltd

Subscribe to our newsletter

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