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Rio Tinto cuts reserves at Oyu Tolgoi

Rio Tinto cuts reserves at Oyu Tolgoi

Rio Tinto’s (RIO) redesign of the Oyu Tolgoi underground copper mine will eat into its reserves, as the new plan has seen some 40m tonnes of ore come out of the reserve. This is the economically viable part of the mineral resource. The reserve fall was entirely in the Hugo Dummett North mine, which lost 47mt at 1.5 per cent copper, or 9 per cent, while the smaller Hugo Dummett North Extension gained 7.7mt, taking its ore reserve to 40mt. 

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