Oyu Tolgoi underground mine gets $75M jumpstart

Turquoise Hill confirms that the Oyu Tolgoi LLC board of directors has approved a bridging budget of $75 million to continue critical activities at the Oyu Tolgoi underground mine development project in southern Mongolia. The approval reflects the progress made during recent negotiations between Turquoise Hill, the Mongolian government and Rio Tinto about the expansion of the Oyu Tolgoi copper-gold…

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Newmont selling power business to Northern Star

Northern Star will soon own more power after buying Newmont’s power business from its Australian division for US$95 million. The move comes after the former paid $25 million for a 50% interest in Kalgoorlie Consolidated Gold Mines (KCGM), which afforded it the option to obtain the business from Newmont. Northern Star now has a sale agreement with Newmont Australia to…

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