Rio Tinto says signs power deal for Oyu Tolgoi

Mon Nov 5, 2012 3:41am EST
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LONDON Nov 5 (Reuters) - Global miner Rio Tinto said on Monday that it had signed a power supply deal with a Chinese company for its huge Oyu Tolgoi project, putting it on course to start production in the first half of next year.

Earlier in October, Rio flagged potential delays at the Oyu Tolgoi copper-gold mine in Mongolia, due to prolonged talks with China over power supply.

Rio said that the binding agreement with the Chinese company meant that the commissioning of ore-processing equipment could start in the next few weeks.

Turquoise Hill, controlled by Rio, is also involved in the Oyu Tolgoi project.