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Title
Oyu Tolgoi expansion plans approved; Rio Tinto will spend $5.3 billion for underground project.
Abstract
The article reports on the approval of Rio Tinto Co.'s plans for underground expansion of the Oyu Tolgoi Mine in Mongolia. The company will invest $5.3 billion for the expansion project that will include 200-kilometer of tunnels to reach 11.3 Mt of copper and 37.3 trillion of gold and it is expected to start in 2020. The approval is considered as a success for Rio Tinto's incoming chief executive Jean-Sebastien Jacques.