Fire Out At Mongolia Oyu Tolgoi; No Injuries, Project On Track

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Company Details

SOURCE Dow Jones Newswires | 10 January 2012

Oyu Tolgoi LLC, the developer of Mongolia's largest copper-gold project, said Monday that a fire that broke out at the mine's emulsion plant Sunday has been extinguished and won't result in any construction delays.

The company, which is 66% owned by Canada-based Ivanhoe Mines Ltd and 34% owned by the Mongolian government, said: "No injuries have been reported and all staff have been accounted for. The fire is out, and the damage was confined to the roof of the building."

The emulsion plant is where explosives are prepared for the open pit mine.

Oyu Tolgoi is due to begin first commercial production by mid-2013. Anglo-Australian miner Rio Tinto PLC is the project operator and owns a 49% stake in Ivanhoe Mines.

By Alex MacDonald 

01-10-12 0601ET

Copyright (c) 2012 Dow Jones & Company, Inc.

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