Oyu Tolgoi to start copper and gold production in late 2012 -: "As Chile is hit by falling ore grades and Peru is hit by delays due to populist agitation, the copper market is pinning a lot on the start of copper production later this year at Rio and Ivanhoe’s Oyu Tolgoi mine in southern Mongolia’s Gobi desert.
First identified over ten years ago, Rio and their subsidiary, Ivanhoe along with the Mongolian government that holds 34% stake have poured billions into what is one of the most exciting mining projects in the world. Admittedly not as large as Chile’s Escondida, Oyu Tolgoi still holds the promise to yield some 450,000 tonnes per year of copper and 330,000 ounces of gold when it reaches full production sometime in 2013.
The ore body is growing in estimation as further exploration is done but already extends over 30 kilometers long by 1 kilometer wide and over a kilometer deep. Oyu Tolgoi is estimated to have reserves of at least 36 million tonnes of copper and 45 million ounces of gold, enough for 45 year mine life."
'via Blog this'
