RJP-Power vacuum: Rio Tinto scours for electricity to run giant Mongolia copper mine [Reuters]
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Source: Reuters
RJP-Power vacuum: Rio Tinto scours for electricity to run giant Mongolia copper mine | Reuters 5 Min Read * Mining giant running out of time to secure power supplies * Chinese electricity set to be stopped in 2022 * Government wants new power plant at Tavan Tolgoi coal site By Barbara Lewis and Munkhchimeg Davaasharav LONDON/ULAANBAATAR, Sept x (Reuters) - Mining giant Rio Tinto is racing against time to find the electricity needed to run its giant copper-gold mine in Mongolia, as wrangles with the government threaten a further setback for the flagship project. Oyu Tolgoi, located in the South Gobi region near landlocked Mongolia’s southern border with China, is scheduled to complete a $5.3 billion underground expansion by 2022, creating one of the world’s biggest copper suppliers. The project is set to transform Mongolia’s tiny economy and is key for Rio as the sole potential growth area for its copper business, but it has been beset by squabbles over cost overruns, claims of unpaid
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