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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: Re: Oyu Tolgoi
7
Jun 21, 2013 11:35AM
2
Jun 21, 2013 10:50PM

That's what the article said that I provided a link to, but it is facing some strong opposition and the government of Mongolia asked them to hold production until they look into the water concerns.:

The lump of copper ore beneath the brown scrub and sand of Mongolia’s Gobi desert is about the size of Manhattan and contains enough of the metal to meet world demand for two years.

Rio Tinto (RIO) yesterday postponed today’s scheduled first shipment from the $6.6 billion mine, saying it will start as soon as the government indicates support.

Rio Tinto’s Oyu Tolgoi LLC unit will use 696 liters of water a second to process ore into copper concentrate for delivery by road to China -- a truck every nine minutes, 24 hours a day.

The mine’s massive water needs and its overall impact on the environment has raised concerns, including at the U.S. Treasury Department, which makes recommendations to international lenders.

The Treasury said on Feb. 28 that it wants to be “recorded as abstaining on this project based on environmental policy concerns and legislative mandates.”

--http://www.bloomberg.com/news/2013-06-20/where-raptors-roamed-rio-tinto-s-copper-dream-stirs-water-worry.html


Jul 09, 2013 01:03AM
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