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Rio Tinto working to ensure access to Russian fuel for Mongolia project -exec By Reuters


© Reuters. FILE PHOTO: Mining trucks are seen at the Oyu Tolgoi mine in Mongolia’s South Gobi region June 23, 2012. REUTERS/David Stanway/File Photo/File Photo


By Ernest Scheyder

HOUSTON (Reuters) -Rio Tinto Ltd is working to maintain steady supplies of fuel and other goods for its Mongolian operations from suppliers that buy from Russia and elsewhere, a top executive at the mining giant said on Wednesday.

The Anglo-Australian company is developing Mongolia’s Oyu Tolgoi, one of the world’s largest known copper and gold deposits. Rio controls about two-third of the project, with Ulanbaatar controlling the rest.

While Rio has begin looking for alternative fuel sources for Oyu Tolgoi, the company does not believe it can stop buying from Russia altogether, Bold Baatar, head of Rio’s copper business, said on the sidelines of the CERAWeek energy conference in Houston. Rio has supply agreements for a host of products with…

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