Oyu Tolgoi mine design confirms project schedule and cost ranges and update to Ore Reserves and Mineral Resources
03 Luglio 2020 - 12:38AM
Business Wire
Oyu Tolgoi LLC has completed an updated feasibility study
(OTFS20) and is in the process of submitting this to the Government
of Mongolia. The OTFS20 has been prepared in accordance with
Mongolian regulations and standards which require mining companies
to submit updated feasibility studies every five years. The updated
study incorporates a new mine design for Panel 0 of the Hugo
Dummett North underground mine at Oyu Tolgoi. The new design also
confirms that the caving method of mining remains valid and that
the underground schedule and costs remain within the ranges
previously disclosed.
These ranges include a delay of 21 to 29 months for first
sustainable production compared to the original feasibility study
guidance in 2016 and an increase of $1.3 billion to $1.8 billion
from the original $5.3 billion development capital. Detailed study,
design, engineering and optimisation work is ongoing to support the
definitive estimate of Panel 0 for the development of this
world-class orebody, which remains due in the second half of 2020.
These estimates are subject to any additional scheduling delays or
increases in capital costs arising from the impacts of the ongoing
COVID-19 pandemic.
Arnaud Soirat, chief executive of Copper & Diamonds said
“This amended mine design is another positive step in the
development of the underground mine which will unlock the most
valuable part of Oyu Tolgoi. We remain focused on delivering the
underground project safely and within the guidance ranges we have
announced on both cost and schedule.”
The updated mine design is the result of the review announced by
Rio Tinto in July 2019 when enhanced geotechnical and geological
information obtained from drilling and mapping at depth suggested
there may be some stability risks associated with the original mine
design. The updated design retains two in-situ rock pillars on
either side of Panel 0 for geotechnical stability. In the original
mine design, these pillars were within the mining area. The updated
design is supported by extensive geotechnical modelling and
industry leading technical assurance.
As a consequence of leaving the pillars in place, the material
contained in the pillars has been reclassified from Ore Reserves to
Mineral Resources. It is expected that part of the material
contained in these pillars will be recoverable at a later stage
following additional studies which are currently underway.
Ore handling infrastructure will be relocated to the pillars,
located immediately north and south of the current Panel 0
boundaries. Panels 1 and 2 will now be initiated as independent
panels or mine blocks.
Optimisation of mine designs for Panels 1 and 2 is ongoing and
it is anticipated that this next phase of study may result in
further movements in classifications of Ore Reserves and Mineral
Resources. Any such movements will be reported following completion
of the studies.
On 3 July 2020 Rio Tinto released to the Australian Securities
Exchange (ASX) updated Mineral Resources and Ore Reserves for the
Oyu Tolgoi mine.
A copy of the full announcement to the ASX is available on Rio
Tinto's website at
riotinto.com/invest/financial-news-performance/resources-and-reserves.
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/20200702005596/en/
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