StockMarketWire.com - Mining company Rio Tinto said it had reached an agreement with the government of Mongolia on a new source of domestic power for its Oyu Tolgoi copper and gold mine there.
The agreement paved the way for the government to fund and construct a power plant at Tavan Tolgoi, the company said.
It also stated that the parties would work towards finalising a power purchase agreement by the end of March 2021.
Construction of a coal-fired power plant would begin no later than 1 July 2021, with commissioning within four years thereafter.
Oyu Tolgoi currently used imported power.
Story provided by StockMarketWire.com
Shares Magazine

Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events

Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.