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Rio Tinto, Mongolia resolve issues over $6.925B Oyu Tolgoi copper project; underground operations to start

Green Car Congress

Rio Tinto, Turquoise Hill Resources (TRQ) and the Government of Mongolia have reached an agreement that will move the Oyu Tolgoi (OT) copper mine project ( earlier post ) forward, resetting the relationship between the partners and increasing the value the project delivers for Mongolia.

Mongolia 150
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Rio Tinto completes acquisition of Turquoise Hill for $3.1B

Green Car Congress

Rio Tinto has completed its acquisition of Turquoise Hill Resources Ltd for a consideration of approximately $3.1 billion, simplifying the ownership of the world-class Oyu Tolgoi mine in Mongolia, significantly strengthening Rio Tinto’s copper portfolio, and demonstrating its long-term commitment to the project and Mongolia.

Mongolia 218
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Rio Tinto begins underground production at Oyu Tolgoi; 4th largest copper mine in world by 2030

Green Car Congress

Since the agreement between the Government of Mongolia and Rio Tinto in January 2022 to reset the relationship and move the Oyu Tolgoi underground project forward, 30 drawbells have been blasted and copper is now being produced from the underground mine.

Mongolia 170
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Topsoe to provide technology for first commercial size dynamic green ammonia plant in China

Green Car Congress

Inner Mongolia is very rich in wind energy resources, and Mintal Hydrogen estimates that the areas wind resources has the potential of being developed into a total output capacity of 150 gigawatt. This corresponds to 40% of the available wind energy resources in China. Mintal Hydrogen Energy Technology Co.,

China 218
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Rio Tinto offers $2.7B cash to buy Turquoise Hill stake in Oyu Tolgoi copper mine

Green Car Congress

The proposal follows the comprehensive agreement reached in January between Rio Tinto, Turquoise Hill and the Government of Mongolia to move the Oyu Tolgoi (OT) project forward ( earlier post ), reset the relationship between the partners and approve commencement of underground operations. billion in cash. Rio Tinto currently owns 50.8%

Mongolia 199
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Rio Tinto and First Quantum Minerals partner to progress the La Granja copper project in Peru

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Rio Tinto and First Quantum Minerals (FQM) have entered into an agreement to form a joint venture that will work to unlock the development of the La Granja copper project in Cajamarca, Northern Peru, one of the largest undeveloped copper resources in the world. USGS map of global mineral resources.

Peru 273
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Benchmark: battery supply chain hit by Chinese energy cuts

Green Car Congress

Hunan and Inner Mongolia are among the most affected areas of the battery supply chain, with the former a production hub for cathodes and the latter a hub for synthetic graphite anode processing. In the long-term, China seeks to guarantee resource security by addressing the structural issues behind the current electricity supply shortage.

Supplies 186