Rio Tinto boss positive Oyu Tolgoi China dispute resolved soon

Rio Tinto boss positive Oyu Tolgoi China dispute resolved soon

Rio Tinto CEO Jean-Sebastian Jacques has stressed the suspension of copper exports from the Mongolian Oyu Tolgoi mine will be resolved shortly.

Last week Chinese authorities closed a border crossing from Mongolia, halting exports and causing a 60km traffic jam as trucks laden with copper queued to get through in sub-zero temperatures.

Jacques, who was promoted to CEO in July, said the mining giant is accustomed to working with Chinese authorities and hoped to resume exports soon.

The Rio boss, who progressed the vast Oyu Tolgoi mine into production in his previous role as head of copper, said the disruption was just a ‘bump in the road’.

“Each time we would work with the authorities and each time it was resolved. I’ve no doubt it will be resolved this time,” said Jacques.

Oyu Tolgoi is one of Rio’s prized projects and it recently initiated a US$5.3 billion expansion to mine from deeper levels of the deposit. The majority of the mine’s product is sent to China, the world’s biggest consumer of metals.

@RGNonline