Agreement reached on a preferred long-term power supply for Oyu Tolgoi
29 Giugno 2020 - 12:33AM
Business Wire
Rio Tinto, Turquoise Hill and the Government of Mongolia have
reached an agreement on the preferred domestic power solution for
Oyu Tolgoi that paves the way for the Government to fund and
construct a State Owned Power Plant at Tavan Tolgoi.
The agreement, which is a revision of the Power Source Framework
Agreement (PSFA) signed in 2018, states that the Parties will work
towards finalising a Power Purchase Agreement by the end of March
2021. In addition, the amended PSFA sets a proposed timetable for
development, with construction of the coal-fired power plant set to
begin no later than 1 July 2021, and commissioning within four
years thereafter.
Oyu Tolgoi currently uses imported power and both the Government
of Mongolia and Oyu Tolgoi have committed to extending the current
arrangement to ensure continued stable power is supplied to the
mine and underground project until the State Owned Power Plant is
commissioned and is able to supply stable, reliable and continuous
power.
Arnaud Soirat, Copper & Diamonds chief executive, said,
“This agreement provides a potential pathway to securing a domestic
power supply for the Oyu Tolgoi mine and underground project for
the benefit of all shareholders and the wider community. We look
forward to working with the Government of Mongolia to progress the
solution.”
This announcement is authorised for release to the market by Rio
Tinto’s Group Company Secretary.
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version on businesswire.com: https://www.businesswire.com/news/home/20200628005034/en/
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