Rio Tinto still targeting first Oyu Tolgoi production as early as October 2022

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Mining company Rio Tinto said it was still targeting first production from Oyu Tolgoi copper project in Mongolia between October 2022 and June 2023.

The company reiterated the guidance after partner Turquoise Hill Resources published a technical report for the project.

Rio Tinto said all resource estimates were subject to potential changes once it completed a definitive estimate, which was still expected later in 2020.

Development capital for the project was still expected at $6.6bn-to-$7.1bn.

'These estimates remain subject to any scheduling delays or increases in capital costs arising from the impacts of the COVID-19 pandemic,' it added.


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