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Rio Tinto notes TRQ update on Oyu Tolgoi

1 Sep 2020 07:00

RNS Number : 5297X
Rio Tinto PLC
01 September 2020
 

Rio Tinto notes TRQ update on Oyu Tolgoi

 

31 August 2020

 

Rio Tinto notes Turquoise Hill Resources' (TRQ) publication of its '2020 Oyu Tolgoi Technical Report' (2020 OTTR) in relation to the Oyu Tolgoi (OT) project in Mongolia. The 2020 OTTR has been prepared and published by TRQ in compliance with their Canadian listing obligations (National Instrument 43-101 - Standards of Disclosure for Mineral Projects) and provides an update on scientific and technical information related to OT. The obligation to publish the 2020 OTTR was triggered by TRQ's disclosure on 2 July, 2020, of updated Mineral Resources and Ore Reserves for OT, reflecting the new mine design for Panel 0 of the underground development.

 

All estimates are subject to potential changes once Rio Tinto completes the definitive estimate, which is still expected later in 2020. Rio Tinto continues to target first sustainable production from the OT underground project between October 2022 and June 2023 and development capital of $6.6 to $7.1 billion, based on the updated mine design of Panel 01. These estimates remain subject to any scheduling delays or increases in capital costs arising from the impacts of the COVID-19 pandemic.

 

 

 

[1] The level of accuracy of these estimates is preliminary in nature and subject to a range of variables, in line with previous guidance. The confidence level of these estimates is at a level associated with a Pre-Feasibility Study, and further work is required between now and the second half of 2020 to refine the mine design options and study them to a level of confidence and accuracy associated with Feasibility Study quality estimates.

 

 

Contacts

 

media.enquiries@riotinto.com 

riotinto.com

 

Follow @RioTinto on Twitter

 

 

Media Relations, United Kingdom

Illtud Harri

M +44 7920 503 600

 

David Outhwaite

T +44 20 7781 1623

M +44 7787 597 493

 

Media Relations, Americas

Matthew Klar

T +1 514 608 4429

 

Media Relations, Asia

Grant Donald

T +65 6679 9290

M +65 9722 6028

 

Media Relations, Australia

Jonathan Rose

T +61 3 9283 3088

M +61 447 028 913

 

Matt Chambers

T +61 3 9283 3087

M +61 433 525 739

 

Jesse Riseborough

T +61 8 6211 6013

M +61 436 653 412

 

Investor Relations, United Kingdom

Menno SanderseT: +44 20 7781 1517M: +44 7825 195 178

 

David Ovington

T +44 20 7781 2051

M +44 7920 010 978Clare PeeverM: +44 7788 967 877

 

 

Investor Relations, Australia

Natalie Worley

T +61 3 9283 3063

M +61 409 210 462

 

Amar Jambaa

T +61 3 9283 3627M +61 472 865 948

 

Group Company Secretary

Steve Allen

Rio Tinto plc

6 St James's Square

London SW1Y 4AD

United Kingdom

T +44 20 7781 2000

Registered in England

No. 719885

 

Joint Company Secretary

Tim Paine

Rio Tinto Limited

Level 7, 360 Collins Street

Melbourne 3000

Australia

T +61 3 9283 3333

Registered in Australia

ABN 96 004 458 404

This announcement is authorised for release to the market by Rio Tinto's Group Company Secretary.

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