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Rio Tinto officials see Oyu Tolgoi copper as important part of company’s future |
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Tuesday, 04 December 2007 |
 Even as mining giant Rio Tinto
is weighing offers to purchase the company, company executives are promoting
a new focus on corporate growth by developing their copper mines in
Mongolia and elsewhere.
Officials noted that their
Mongolian holding, Oyu Tolgoi, is expected to produce 440,000 tons of
copper annually, along with “significant gold by-products.”
"By 2025 we estimate that
the world will be consuming an additional 14 million tons of copper
per annum, that's almost a doubling of current consumption in less than
20 years,” Rio Tinto copper chief executive Bret Clayton told
news.com.au.
"Demand remains strong
and supply is struggling to keep pace," Mr. Clayton said.
BHP Billiton is seeking to
take over Rio Tinto. However, officials close to the initial negotiations
have indicated the companies are not near any agreement.
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