Rio Tinto continues to progress options to secure domestically sourced power for the Oyu Tolgoi copper mine in Mongolia, which it is obliged to do by 30 June 2023 under the 2009 Investment Agreement (IA) between Turquoise Hill, the Government of Mongolia and Rio Tinto and subsequent Power Sector Framework Agreement, signed in 2018.
In compliance with these agreements, Oyu Tolgoi LLC today submitted to the Government of Mongolia a Feasibility Study for the Tavan Tolgoi Power Plant (TTPP) Project, which involves building a 300 MW coal power plant. In parallel with the TTPP Project, and in consultation with the Government of Mongolia, Rio Tinto is also progressing alternative options to source domestic power, including a renewable power component.
Rio Tinto Copper & Diamonds chief executive Arnaud Soirat said "Rio Tinto, Turquoise Hill and the Government of Mongolia are all committed to securing a reliable and long term domestic power source for the Oyu Tolgoi mine and are working together to achieve this".
The TTPP Feasibility Study envisages a 300 MW power plant with a project cost estimate of around $924 million. This is already included in the group capex guidance of $7 billion in 2020 and $6.5 billion each in 2021 and 2022.
Osisko Development Corp. ("Osisko Development" or the "Company") announces the filing of a technical report (the "Technical Report") for the updated mineral resource estimate ("MRE") on its 100%-owned underground Trixie deposit (the "2024 Trixie...
Kootenay Resources Inc. ("Kootenay" or the "Company") announces that it has closed its previously announced non-brokered private placement offering (the "Offering") for aggregate gross proceeds of $473,094.95. The Company continues to work towards...
Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (FRA:5XFA) is pleased to announce that Hugh Behroozy has been appointed to its Board of Directors (the "Board") effective immediately.Mr. Behroozy is an...
Eagle Bay Resources Corp. ("Eagle Bay" or the "Company") wishes to announce that Jason Birmingham, a founding director of the Company, has resigned from the board to pursue other interests. The Company wishes to thank Mr....
International Battery Metals Ltd. (the "Company") is pleased to announce that it has completed a non-brokered private placement financing of up to 14,338,494 units (each a "Unit") issued at a price of CAD$0.784 per Unit for gross proceeds of USD...
Almaden Minerals Ltd. ("Almaden" or "the Company"; TSX: AMM; announces that its Annual Report on Form 20-F for the fiscal year ended December 31, 2023 has been filed with the U.S. Securities and Exchange Commission. The Form 20-F and the Company's...
