Rio Tinto submit power supply plan for Mongolian copper project
By Frank Prenesti
Date: Tuesday 18 Feb 2020
(Sharecast News) - Rio Tinto said its Mongolian copper project had submitted a feasibility study to the local government as it looked to secure domestically sourced power for the $924m operation.
Oyu Tolgoi submitted a feasibility study for the Tavan Tolgoi power plant project, which involves building a 300 MW coal power plant, the miner said in a statement.
The global miner said it was also working on alternative options to source domestic power, including a renewable power component.
Rio Tinto's Turquoise Hill Resources subsidiary holds a 66% stake in the project with the Mongolian state holding the remaining 34%.
The miner on Monday also lowered its iron ore volume shipment forecast for Australia's Pilbara region after tropical cyclone Damien hit the west coast.
Rio said it now expected Pilbara shipments in 2020 of 324m - 334m tonnes, lower than the previous outlook of 330m - 343m tonnes.
"The cyclone caused infrastructure damage across our entire Pilbara network, including impact to access roads, electrical and communications infrastructure and accommodation," the company said.
It added that it was resuming operations after the cyclone had passed, adding that it would take time for operations to return to normal.
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