Rio Tinto limited (ASX: RIO) announced completion of updated feasibility study “Oyu Tolgoi” and is in the process of submitting this to the Government of Mongolia. Oyu Tolgoi is one of the largest copper and gold deposits in the world. The updated study incorporates
- New design for Panel 0 of the Hugo Dummett North underground mine at Oyu Tolgoi.
- New design also confirms that the caving method of mining remains valid while schedule and cost estimates are in line with earlier forecasts
- Ranges include delay of 21 to 29 months for first sustainable production compared to the original feasibility study guidance in 2016
- An increase of $1.3 billion to $1.8 billion is also included from the original $5.3 billion development capital.
Management remains positive on mine development.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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