Turquoise Hill says power lines ready for Oyu Tolgoi project

Oct 10 • Business, Infrastructure, Mining • 628 Views • No Comments on Turquoise Hill says power lines ready for Oyu Tolgoi project

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

According to the Reuters agency news, Turquoise Hill Resources, which is controlled by global mining giant Rio Tinto, has a 66 percent stake in the project said construction of power transmission lines for its Oyu Tolgoi copper-gold project in Mongolia has been completed and it was confident of receiving electricity from China.

Turquoise Hill, earlier known as Ivanhoe Mines, said it is in talks with Chinese authorities on a power purchase agreement for the project.

First ore is expected to be processed within six weeks of signing the final power agreement, said the company.
The company reiterated that underground production at Oyu Tolgoi is expected to start in 2016. It plans to secure $3 billion to $4 billion to finance the project.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

« »