Rio’s Oyu Tolgoi mine to start copper exports on July 9 -Mongolia

Rio Tinto will start exporting copper from the US$6.2 billion (HK$48.1 billion) Oyu Tolgoi mine in Mongolia on Tuesday, the Mongolian government said, but it was not clear if the miner would be able to repatriate sales revenue from the mine.

The unlocking of ore shipments is key for Rio to secure a further US$4 billion (HK$31.0 billion) in project funding for the expansion of the mine, which will significantly boost the Anglo-Australian miner’s copper portfolio and ease its dependence on iron ore.

via Business feed http://www.scmp.com/business/companies/article/1277919/rios-oyu-tolgoi-mine-start-copper-exports-july-9-mongolia