Protesters blocked a transport route serving Rio Tinto's Oyu Tolgoi mine in Mongolia, disrupting copper concentrate exports and prompting warnings of economic losses.
Copper concentrate exports from Rio Tinto's Oyu Tolgoi mine in Mongolia have resumed after a protest-related disruption halted shipments to the Chinese border earlier this week, the company said on June 18.
In a statement posted on social media, Oyu Tolgoi said export convoys had returned to normal operations. The update follows a blockade on June 17 by members of the Radical Reform Movement, which stopped scheduled concentrate deliveries and prompted warnings that prolonged disruptions could affect contractual commitments and government revenues.
Oyu Tolgoi said the operation injects an average of 23 billion tugrik into Mongolia's economy each day and accounts for more than 10% of economic activity through its direct and indirect contributions. The company noted that the mining industry is responsible for about a third of the tugriks circulating through the Mongolian economy.
Oyu Tolgoi, which is 66% owned by Rio Tinto and 34% by the Mongolian government, is expected to become the world's fourth-largest copper mine once fully operational.
Protesters blocked a transport route serving Rio Tinto's Oyu Tolgoi mine in Mongolia, disrupting copper concentrate exports and prompting warnings of economic losses.
Argentina has approved the Vicuna copper project - a joint venture between Australia's BHP and Canada's Lundin Mining - in what Economy Minister Luis Caputo called the largest mining project in Argentina's history.
There was a split tone on LME base metals this week with copper, zinc, and tin finishing higher week-on-week, while aluminium, lead, and nickel all closed lower.
