rio-ex9930

Rio Tinto today announced the signing of the Power Source Framework Agreement (PSFA) between Oyu Tolgoi and the Government of Mongolia.

Rio Tinto Copper & Diamonds chief executive Arnaud Soirat said “The Power Agreement is a positive step forward for Oyu Tolgoi and outlines a path to secure reliable, long-term power for the operation.

“We will now work together with all of Oyu Tolgoi’s partners to finalise the details and develop the power project which will help ensure the operation reaches its full potential to the benefit of all shareholders.”

The agreement sets out an amended timetable for Oyu Tolgoi to meet its obligation to source power domestically. The 300 megawatt plant will be majority owned by Oyu Tolgoi LLC and will be situated close to the Tavan Tolgoi coalfields. Construction is scheduled to start in 2020 following extensive studies, with the commissioning of the plant by mid-2023.

All Oyu Tolgoi shareholders will now work on the further technical specifications and commercial arrangements underpinning the framework agreement.

Media Relations, United Kingdom

Illtud Harri

M +44 7920 503 600

David Outhwaite

T +44 20 7781 1623

M +44 7787 597 493

Media Relations, Canada

Matthew Klar

T +1 514 608 4429

Media Relations, Australia

Jonathan Rose

T +61 3 9283 3088

M +61 447 028 913

Jesse Riseborough T +61 8 6211 6013

M +61 436 653 412

Investor Relations, United Kingdom

John Smelt

T +44 20 7781 1654

M +44 7879 642 675

David Ovington

T +44 20 7781 2051

M +44 7920 010 978

Nick Parkinson

T +44 20 7781 1552

M +44 7810 657 556

Investor Relations, Australia

Natalie Worley

T +61 3 9283 3063

M +61 409 210 462

Rachel Storrs

T +61 3 9283 3628

M +61 417 401 018

Rio Tinto plc

6 St James’s Square London SW1Y 4AD United Kingdom

T +44 20 7781 2000

Registered in England No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street

Melbourne 3000 Australia

T +61 3 9283 3333

Registered in Australia ABN 96 004 458 404