Rio Tinto Seals Power Deal For $13B Mongolian Mine

Law360, New York (November 5, 2012, 7:34 PM EST) -- Rio Tinto PLC has finally inked a deal to power its massive copper-gold mine in Mongolia, it said Monday, ending a stalemate with Chinese electricity officials and leaping the last hurdle on the $13 billion mine's path to production.

The Oyu Tolgoi mine will start a seven-week commissioning of the ore-processing equipment within a few weeks and first commercial production is expected within about seven months, the company said.

Construction of the enormous open-pit mine has been virtually complete for months, with all the transmission infrastructure...
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