Oyu Tolgoi to supply concentrates to Inner Mongolia
Rio Tinto publicized its 2011-2012 annual report last week.
According to the report, construction work of Oyu Tolgoi copper and gold project is coming to an end. The Oyu Tolgoi LLC announced that it produced its first copper concentrate on January 31 and the government of Mongolia has recently raised issues related to the implementation of shareholder’s and investment agreement and project financing. Rio Tinto officials said “We will continue to cooperate with the government of Mongolia to make the project more profitable”.
Depending on the decisions made by the government, Oyu Tolgoi LLC will decide whether or not to sell its products on foreign markets in the first half of this year. The agreement with Oyu Tolgoi states that Rio Tinto would sell 75 percent of produced concentrates according to the international commercial terms.
If theMongolian government and Rio Tinto conclude a more detailed commercial agreement, 25 percent of the copper concentrate would be delivered to Inner Mongolian copper mill, on terms of international trade requirement.
According to the report, construction work of Oyu Tolgoi copper and gold project is coming to an end. The Oyu Tolgoi LLC announced that it produced its first copper concentrate on January 31 and the government of Mongolia has recently raised issues related to the implementation of shareholder’s and investment agreement and project financing. Rio Tinto officials said “We will continue to cooperate with the government of Mongolia to make the project more profitable”.
Depending on the decisions made by the government, Oyu Tolgoi LLC will decide whether or not to sell its products on foreign markets in the first half of this year. The agreement with Oyu Tolgoi states that Rio Tinto would sell 75 percent of produced concentrates according to the international commercial terms.
If theMongolian government and Rio Tinto conclude a more detailed commercial agreement, 25 percent of the copper concentrate would be delivered to Inner Mongolian copper mill, on terms of international trade requirement.
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