0337 GMT - Schedule changes at Rio Tinto's Oyu Tolgoi copper mine are likely to have a small negative impact on the asset's valuation, says RBC Capital Markets analyst Kaan Peker. The planned Panel 1 underground development has been affected by a pause on development work in the Entree joint venture area. Under the new schedule, Panel 2 South will need to start and ramp up much sooner than previously indicated, says Peker. But Panel 2 is lower in gold grade, and also has marginally lower copper and silver grades, he says. The change could make it harder for Rio Tinto to reach nameplate capacity by 2028, says Peker. It could also increase geotechnical risk, as sequencing was set for Panel 2 South to start in 2029-2030 after Panel 2 North was established, he says. Rio Tinto is down 0.6% in Sydney at A$108.94. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
June 09, 2025 23:37 ET (03:37 GMT)
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