1 MONGOLIA RANKED 101ST AT 2021 MILITARY STRENGTH RANKING WWW.MONTSAME.MN PUBLISHED:2021/01/20      2 OYU TOLGOI OPERATIONS GO FROM STRENGTH TO STRENGTH DESPITE TOP LEVEL RUMBLINGS WWW.IM-MINING.COM PUBLISHED:2021/01/20      3 BOEING 737 MAX TO BE CLEARED TO FLY IN EUROPE WWW.BBC.COM PUBLISHED:2021/01/19      4 INDIA TO EXPORT COVID VACCINES FREE OF COST TO ITS NEIGHBOURS AS A ‘GOODWILL GESTURE’ WWW.THEPRINT.IN PUBLISHED:2021/01/19      5 RIO HIT BY NEW TENSIONS, NEW GEOLOGY PROBLEMS IN MONGOLIA WWW.AFR.COM PUBLISHED:2021/01/19      6 MONGOLIA REPORTS 10 MORE LOCALLY TRANSMITTED COVID-19 CASES WWW.XINHUANET.COM PUBLISHED:2021/01/19      7 NEW RIO TINTO BOSS HAS MONGOLIAN BULLET TO BITE WWW.REUTERS.COM PUBLISHED:2021/01/19      8 OFFICIAL LETTER SENT TO CABINET CONCERNING DELIVERY OF OYU TOLGOI RELATED DOCUMENTS WWW.PRESIDENT.MN PUBLISHED:2021/01/19      9 RUSSIA PLANS EARLIEST-EVER SHIPMENT OF ARCTIC LNG TO ASIA WWW.RT.COM PUBLISHED:2021/01/19      10 FRENCH CENTRAL BANK TO EXIT COAL, CAP OIL AND GAS INVESTMENTS WWW.REUTERS.COM PUBLISHED:2021/01/19      ДЭЛХИЙН БАНК: БҮХ НИЙТИЙН БЭЛЭН БАЙДЛЫН ҮЕИЙН ХӨЛ ХОРИОНЫ УЛМААС АЖИЛ ЭРХЛЭЛТ 40 ХУВИАР БУУРСАН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2021/01/19     COVID-19-ИЙН БҮРТГЭГДСЭН ХАЛДВАРЫН ТОО ӨМНӨХ ДОЛОО ХОНОГООС 35%-ААР БУУРЧЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2021/01/19     НҮҮРСТӨРӨГЧИЙН ЯЛГАРУУЛАЛТ, БАЙГАЛЬД ӨГЧ БУЙ ДАРАМТ НЬ МОНГОЛ УЛСЫГ ХҮНИЙ ХӨГЖЛИЙН ИНДЕКСЭЭС 10 БАЙР ХОЙШ ТАТАЖ БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2021/01/19     IV УЛИРЛЫН НӨАТ-ЫН БУЦААН ОЛГОЛТЫГ ӨГӨХӨӨР ИРГЭДИЙН МЭДЭЭЛЛИЙГ ХЯНАЖ, БАТАЛГААЖУУЛЖ БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2021/01/19     ГYРИЛ ҮЙЛДВЭРЛЭЛД 242.8 МЯНГАН ТОНН ХҮНСНИЙ УЛААНБУУДАЙ НИЙЛҮҮЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2021/01/19     ДАТА ХЭРЭГЛЭЭ ХОЁР ДАХИН НЭМЭГДЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2021/01/19     10 000 ГАРУЙ НЭР ТӨРЛИЙН БАРААНД 5-100 ХУВИЙН ХӨНГӨЛӨЛТ ЭДЭЛНЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2021/01/19     БНЭУ-ААС ОЙРЫН ХУГАЦААНД ЦАР ТАХЛЫН ЭСРЭГ ВАКЦИН НИЙЛҮҮЛНЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2021/01/19     ХБНГУ-ЫН БАРУТ/МАРК ХОТ ХӨВСГӨЛ АЙМГИЙН ТӨВИЙН ИРГЭДЭД 48 МЯНГАН ЕВРОГИЙН ТУСЛАМЖ ҮЗҮҮЛЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2021/01/18     МОНГОЛ УЛСЫГ "ХАР ЖАГСААЛТ"-ААС ХАССАН ТУХАЙ ТОГТООЛЫГ НИЙТЭЛЖЭЭ WWW.EAGLE.MN  НИЙТЭЛСЭН:2021/01/18    

Rio Tinto scores big win in Mongolia www.mining.com

The world’s second largest miner Rio Tinto (ASX, LON, NYSE: RIO) has scored a major win in Mongolia after the country’s parliament unanimously approved a resolution that reconfirms the validity of all the Oyu Tolgoi mine-related agreements approved since 2009.

The legislators’ resolution brings an 18-month review on the deals governing the copper-gold mine to a close, allowing the company to continue with an ongoing $7 billion expansion of the operation.

The news is something of a relief for Rio Tinto, which feared the government might try to completely renegotiate the agreements on the asset’s development — a 2009 investment agreement, a 2011 amended and restated shareholder agreement and a 2015 underground mine development and financing plan.

The resolution, however, recommends to explore options to improve the deal, including looking at the Mongolian government’s equity share in Oyu Tolgoi, a re-definition of the reserve report and updated feasibility report, and a renewal of environmental and water assessments.

“Adherence to these agreements by all parties has underpinned a total in-country spend of around $10 billion since 2010,” Rio Tinto’s chief executive copper and diamonds, Arnaud Soirat, said in the statement.

Soirat acknowledged there was still “a lot of work to do” to ensure Oyu Tolgoi reaches its full potential.

Oyu Tolgoi was discovered in 2001 and Rio gained control of it in 2012. The ongoing mine expansion is expected to lift production from 125–150kt this year to 560kt at full tilt from 2025, making it the biggest new copper mine to come on stream in several years.

The giant operation is one-third owned by Mongolia’s government and two-third held by Canada’s Turquoise Hill Resources (TSX, NYSE:TRQ). Out of Turquoise’s 66% share, Rio owns 51%.



Published Date:2019-12-13