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Rio Tinto Hopes to Ship Copper From Oyu Tolgoi Soon to Offset Bingham Canyon Lag
May. 09, 2013 07:18AM PST
Base Metals Investing Reuters reported that Rio Tinto is close to receiving approval from the Mongolian government to make copper shipments from their Oyu Tolgoi mine, which the company hopes to use to offset losses after a landslide at their Bingham Canyon mine.
Reuters reported that Rio Tinto is close to receiving approval from the Mongolian government to make copper shipments from their Oyu Tolgoi mine, which the company hopes to use to offset losses after a landslide at their Bingham Canyon mine.
As quoted in the Reuters report:
A landslide at the firm’s Bingham Canyon copper mine in Utah in April, which could result in over $700 million in lost sales revenue based on Reuters calculations, was unlikely to force a rethink on assets sales, Chief Executive Sam Walsh told shareholders at the annual meeting in Sydney on Thursday.