Rio Tinto, Turquoise Hill and the Government
of Mongolia have reached an agreement
on the preferred domestic power
solution for Oyu Tolgoi that paves the way
for the government to fund and construct
a state-owned power plant at Tavan Tolgoi.
The agreement, which is a revision of
the Power Source Framework Agreement
(PSFA) signed in 2018, said they would
all will work toward finalizing a Power
Purchase Agreement by the end of March
2021. In addition, the amended PSFA
sets a proposed timetable for development,
with construction of the coal-fired
power plant set to begin no later than July
1, 2021, and commissioning within four
years thereafter.
Oyu Tolgoi currently uses imported
power.
“This agreement provides a potential
pathway to securing a domestic power
supply for the Oyu Tolgoi mine and underground
project for the benefit of all
shareholders and the wider community,”
Copper and Diamonds Chief Executive
Arnaud Soirat said. “We look forward to
working with the Government of Mongolia
to progress the solution.”
As featured in Womp 2020 Vol 07 - www.womp-int.com