Rio Tinto (LON: RIO) (ASX:RIO) has approved a shift in underground development at its Oyu Tolgoi copper-gold mine in Mongolia, pausing progress in the Entrée Resources joint venture (JV) area due to ongoing delays in license transfers.
The company said the ramp up of production from Oyu Tolgoi remains on track to deliver an average of around 500,000 tonnes of copper from 2028 to 2036, with options including bringing Panel 1 or Panel 2 South into production first depending on the timing of the Entrée licence transfers.
“With lateral development work only just beginning in Panel 1, this is the right time to pivot and bring forward development in Panel 2 South to maintain our options,” said Katie Jackson, chief executive of Rio Tinto Copper.
While limited development will continue in parts of Panel 1 outside the JV boundary, Rio Tinto confirmed that resources will now be reallocated to expedite…
