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Rio Tinto estimates US$924M cost for Oyu Tolgoi power plant in feasibility study

Rio Tinto said Feb. 17 that its Mongolia-based subsidiary Oyu Tolgoi LLC estimated the project cost for its proposed 300-megawatt Tavan Tolgoi coal power plant at around US$924 million in a feasibility study the company submitted to the Mongolian government.

The cost for the power plant is already included in the group's capital expenditure guidance of US$7 billion for 2020 and US$6.5 billion each for 2021 and 2022, according to a press release.

In parallel with the project and in consultation with the government of Mongolia, Rio Tinto said that it is also progressing alternative options to source domestic power, including a renewable power plant.

Earlier, Rio Tinto said that it has approved an A$98 million investment for a new solar plant at the Koodaideri iron ore mine in Western Australia's Pilbara and a lithium-ion battery energy storage system to help the company's network in the region.