TSX- and NYSE-listed Turquoise Hill Resources has flagged potential further delays in the development schedule of the Oyu Tolgoi underground mine project, saying that the completion of ‘technically complex’ installations at Shaft 2 could take longer than previously thought.
The Rio Tinto-owned company, which holds the giant mine in a 66:34 partnership with the Mongolian government, last year said that sustainable production at the $5.3-billion underground mining project would only be achieved in the third quarter of 2021 rather than the previously guided start of 2021.
However, Turquoise Hill on Wednesday reported that it was increasingly likely that sustainable first production would be delayed beyond the third quarter of 2021.
The miner explained that the completion of Shaft 2 continued to experience challenges during the last quarter of 2018, with structural, mechanical, piping and electrical installation productivity below expectations.
“Current expectations are that the completion of this technically complex installation and commissioning work will now take longer than previously anticipated.
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