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  • Oyu Tolgoi To Begin Concentrate Shipments June 14 2 comments
    Jun 11, 2013 8:23 AM | about stocks: TRQ, RIO

    South China Morning Post:

    Global miner Rio Tinto plans to start exporting copper from the US$6.2-billion Oyu Tolgoi mine in Mongolia on Friday, according to an invitation received by Reuters, marking the opening of a mine that will eventually make up one-third of the country's economy.

    Journalists have been invited to attend a ceremony at the mine on June 14 to celebrate the first shipment.

    (skip)

    Metals traders are eager to hear if Rio has won official approval to export concentrate from Oyu Tolgoi amid the shortfall in shipments from the crippled Grasberg mine, run by Freeport McMoRan Copper & Gold.

    If it happens on Friday that would be good although it is a bit disconcerting that Rio Tinto would not comment officially. This is the beginning of a new era in Mongolia as the revenue from the mine pours into the country. The beginning of shipments should help the perception of the country in a positive way but the Mongolians still have a ways to go to repair the damage done last year.

    Disclosure: I am long TRQ.

    Stocks: TRQ, RIO
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Comments (2)
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  • MSE.Investor
    , contributor
    Comments (93) | Send Message
     
    "plans", "expects", "aims", "schedules",...yes, sure :)

     

    The first shipment is probably not years away but 3 days from now I am not that sure.

     

    Just replying the video of the OT,...and everything related to Mongolia over the last 2 years may trigger questions.

     

    Better late than never after all; it is still a progress but expectations should be low for the moment.

     

    For instance, the audit of OT numbers requested by GOM was supposed to be finished by the end of april.

     

    Has anybody heard of the results? Cannot find a line on that.

     

    Have GOM and RIO agreed on a sustainable budget, not a one moth rollover from RIO ? Still no clue.

     

    Will love to see pictures of the copper loaded trucks as well as knowing WHEN they reach the clients!!

     

    Until then, probably not safe to hold my breath.
    11 Jun 2013, 10:28 AM Reply Like
  • MSE.Investor
    , contributor
    Comments (93) | Send Message
     
    ....and:
    http://reut.rs/1756Udx

     

    ...FAIL as expected!

     

    Better:
    ULAN BATOR, June 13 | Thu Jun 13, 2013 2:31am EDT
    (Reuters) - Rio Tinto is delaying an event to mark first exports from the $6.2 billion Oyu Tolgoi mine in Mongolia, as it AWAITS FINAL CLEARANCE from the government, sources familiar with the situation said on Thursday

     

    ....and this after the “make it happen” message from the PM in April.
    http://bit.ly/ZF6ftx

     

    GOM sense of humour I assume ?
    13 Jun 2013, 07:01 AM Reply Like
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