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Rio Tinto PLC  -  RIO   

Development of Oyu Tolgoi underground mine delayed

Released 07:21 29-Jul-2013

RNS Number : 3306K
Rio Tinto PLC
29 July 2013
 



Development of Oyu Tolgoi underground mine delayed

 

29 July 2013

 

Rio Tinto has been notified by the Government of Mongolia that the terms of the project financing provisionally secured for the underground development of Oyu Tolgoi will need to be approved by the Mongolian Parliament.

 

The Mongolian Parliament is currently in summer recess and the parliamentary approval process may take some time to work through. Rio Tinto remains committed to working with the Government of Mongolia to secure project financing. However, in view of the current uncertainty, including continued discussions with the Government on a range of other issues, all funding and work on the underground development will be delayed until these matters are concluded and a new timetable has been agreed.

 

In the meantime, Rio Tinto will focus on the continued safe, efficient and cost-effective management and ramp-up of the open pit mine and sustained export of Oyu Tolgoi concentrate to customers in order to deliver the associated benefits for all stakeholders.

 

About Rio Tinto

 

Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.

 

Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.


 

For further information, please contact:

Media Relations, EMEA / Americas

Illtud Harri

Office: +44 (0) 20 7781 1152

Mobile: +44 (0) 7920 503 600

David Outhwaite

Office: +44 (0) 20 7781 1623

Mobile: +44 (0) 7787 597 493

Christina Mills

Office:  +44 (0) 20 7781 1154

Mobile: +44 (0) 7825 275 605

Investor Relations, London

Mark Shannon

Office:  +44 (0) 20 7781 1178

Mobile: +44 (0) 7917 576597

David Ovington

Office:  +44 (0) 20 7781 2051

Mobile: +44 (0) 7920 010 978

 

Media Relations, Australia / Asia

David Luff
Office:  +61 (0) 3 9283 3620
Mobile: +61 (0) 419 850 205

Bruce Tobin

Office: +61 (0) 3 9283 3612

Mobile: +61 (0) 419 103 454

Investor Relations, Australia

Christopher Maitland

Office: +61 (0) 3 9283 3063

Mobile: +61 (0) 459 800 131

Rachel Storrs

Office: +61 (0) 3 9283 3628

Mobile: +61 (0) 417 401 018

Media Relations, Canada

Bryan Tucker

Office: +1 (0) 514 848 8151

Mobile: +1 (0) 514 825 8319

Investor Relations, North America

Jason Combes

Office:  +1 (0) 801 204 2919

Mobile: +1 (0) 801 558 2645

 

Website:

www.riotinto.com

Email:

media.enquiries@riotinto.com

Twitter:

Follow @riotinto on Twitter

 

High resolution photographs and media pack available at: www.riotinto.com/media 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Development of Oyu Tolgoi underground mine delayed - RNS