1 LOCAL PEACE CORPS VOLUNTEER EVACUATED EARLY FROM MONGOLIA WWW.VOICENEWS.COM  PUBLISHED:2020/04/03      2 70% OF TOURISTS PLANNING TO VISIT MONGOLIA IN 2020 CANCELLED THEIR TRIPS DUE TO CORONAVIRUS WWW.AKIPRESS.COM PUBLISHED:2020/04/03      3 U.S.-MONGOLIA SIGN FORMAL CHILD PROTECTION COMPACT PARTNERSHIP WWW.MN.USEMBASSY.GOV PUBLISHED:2020/04/03      4 POPE APPOINTS APOSTOLIC PREFECT IN ULAANBAATAR, MONGOLIA WWW.VATICANNEWS.VA PUBLISHED:2020/04/03      5 MONGOLIA STARTS CONSTRUCTION OF CHINGIS KHAN MUSEUM WWW.INFORM.KZ PUBLISHED:2020/04/03      6 XANADU MINES: EXPLORATION AT THE KHARMAGTAI DEPOSIT WAS SUSPENDED IN FEBRUARY WWW.ZGM.MN PUBLISHED:2020/04/03      7 MONGOLIA EXPORTED 306.6 THOUSAND TONS OF COPPER CONCENTRATE WWW.MONTSAME.MN PUBLISHED:2020/04/03      8 FINANCE MINISTER SHED LIGHT ON ECONOMIC RELIEF MEASURES WWW.MONTSAME.MN PUBLISHED:2020/04/03      9 NATIONAL SECURITY COUNCIL DISCUSSES NATURAL GAS PIPELINE PROJECT WWW.MONTSAME.MN PUBLISHED:2020/04/02      10 2020 COPPER PRODUCTION FORECAST TRIMMED TO 21MT WWW.MINING.COM PUBLISHED:2020/04/02      ПЕТРОВИС ГРУППЭЭС COVID-19 ХАЛДВАРЫГ ИЛРҮҮЛЭХ 3000 ШИРХЭГ ТҮРГЭВЧИЛСЭН ОНОШЛУУР ХАНДИВЛАЛАА WWW.UB.LIFE  НИЙТЭЛСЭН:2020/04/02     МОНГОЛ УЛС КОРОНАВИРУСИЙГ ЗУРГААН ЛАБОРАТОРИД ОНОШИЛДОГ БОЛЛОО WWW.EAGLE.MN  НИЙТЭЛСЭН:2020/04/02     УИХ: МОНГОЛ УЛС COVID-19-ТЭЙ ТЭМЦЭХ ХҮРЭЭНД ДЭЛХИЙН БАНКНААС 26.9 САЯ АМ.ДОЛЛАРЫН САНХҮҮЖИЛТ АВНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/04/02     ГЕГ: I УЛИРАЛД ЧУЛУУН НҮҮРСНИЙ ЭКСПОРТ 250.6 САЯ АМ.ДОЛЛАР БОЛЖ, ЖИЛИЙН ӨМНӨХӨӨС 39 ХУВИАР БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/04/02     ГЕГ: ТЭЭВРИЙН ХЭРЭГСЛИЙН ИМПОРТ I УЛИРАЛД ӨМНӨХ ОНЫ МӨН ҮЕЭС 16.7 ХУВИАР БУУРСАН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/04/02     МҮХАҮТ: 2019 ОНД БИЗНЕСИЙН ИТГЭЛИЙН ИНДЕКС ӨМНӨХ ОНООС 0.02 НЭГЖЭЭР БУУРЧ 0.47 БОЛОВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/04/02     БНСУ-ААС ТУСГАЙ ҮҮРГИЙН ОНГОЦООР 261 ИРГЭНЭЭ АВЧИРЛАА WWW.IKON.MN  НИЙТЭЛСЭН:2020/04/02     ЭХНИЙ УЛИРЛЫН НӨАТ-ЫН БУЦААН ОЛГОЛТЫГ 860 МЯНГАН ИРГЭН АВНА WWW.EAGLE.MN НИЙТЭЛСЭН:2020/04/02     ГАДААД ХУДАЛДААНЫ БАРАА ЭРГЭЛТ I УЛИРАЛД ӨМНӨХ ОНЫ МӨН ҮЕЭС 24.2 ОРЧИМ ХУВИАР БУУРЧ, 2.3 ТЭРБУМ АМ.ДОЛЛАР БОЛОВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/04/01     ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВАЛТ ОНЫ ЭХНИЙ УЛИРАЛД 4 ДАХИН ӨСЛӨӨ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2020/04/01    

Rio to begin copper production at Winu in 2023 www.mining.com

Rio Tinto (ASX, LON, NYSE: RIO) plans to ramp up development of its Winu copper-gold project in Western Australia, with first production expected in 2023.

The world’s no. 2 miner continues drilling and geophysical testing at the asset, which could be its next major copper project, and is progressing discussions with landowners to keep moving forward.

Chief executive officer Jean-Sébastien Jacques said on Wednesday that the company’s job was to create options to meet market demand.

“A great example of one is Winu, our copper opportunity in Western Australia,” he said.

The Winu copper-gold-silver discovery is about 130 km (80 miles) from Newcrest’s Telfer copper-gold mine in the East Pilbara. It’s also close to numerous copper prospects discovered recently by juniors, and 350 km (220 miles) southeast of Port Hedland, the world’s largest bulk export port.

Rio has been investing heavily in copper in the past two years as it believes the market will soon go into deficit amid expectations that bigger power grids around the world and an electric-vehicle boom will boost demand, while supplies will remain constrained.

Chile, the world’s largest copper mining nation, has echoed the company’s outlook. In January, the state copper commission, Cochilco, said the anticipated global shortage of the metal would materialize this year, reaching about 22,000 tonnes. The agency cited a consumption increase paired with falling volumes of copper scrap processing as the most obvious causes.

Chief financial officer Jakob Stausholm confirmed on Wednesday Rio’s focus on the red metal, noting that most of the exploration expenditure was going towards the commodity.

In the past, analysts have questioned the mining giant’s ability to scale up its copper business quickly without making an expensive acquisition, especially after facing challenges at key assets.

Rio had to delay first production from the $5.3 billion underground expansion of its Oyu Tolgoi copper-gold-silver mine in Mongolia. Originally scheduled for early 2020, it’s now expected to happen in the third quarter of 2021.

Rio also decided to sell its interest in the Grasberg mine in Indonesia, the world’s second-biggest copper mine, as part of a deal that put an end to years of disagreements between operator Freeport McMoRan (NYSE:FCX) and the country’s government.

Demonstrating an increased interest in new discoveries, last year, it invested a further $302 million to advance its Resolution copper project in Arizona and has been advancing other copper projects, such as the Citadel project with Antipa Minerals (ASX:AZY) in Western Australia, and Berenguela, in south-eastern Peru. Rio has also applied for exploration permits in northern Chile.



Published Date:2020-02-28