H1 2023 EBITDA Overview and Oyu Tolgoi Outlook
Oyu Tolgoi: Expect to turn free cash flow positive after significant
investment
Financials²:
Gross Revenue
Annualised basis forecast1, real terms, US$bn
2023 2025 (3 years)
2026 - 2029 (4 years)
2030 - 2033 (4 years)
1.5-2.9
Development Capex³
0.5-0.7
Sustaining Capex³
0.5-0.6
Opex4
0.9 - 1.1
Rio Tinto
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3.8-4.6
0.3-0.4
1.0-1.2
1Based on long term consensus copper prices of US$3.70/lb and gold prices of US$1,500/oz | 2See supporting references for the production targets underpinning
these financial forecasts on slide 2 | ³Development capital relates to the remaining Hugo North Lift 1 scope. Drilling and studies are ongoing for Hugo North Lift 2 |
4Opex relates to operating costs, excluding royalties, corporate tax and depreciation
4.2-5.1
0.2-0.3
1.0-1.2
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