Oyu Tolgoi: Partner for Mongolia’s Development

ULAANBAATAR – Oyu Tolgoi LLC is more than just a mining company. It is a strategic partner for Mongolia’s development, contributing to the economic and social progress of the country. Oyu Tolgoi LLC is a joint venture between the Government of Mongolia, Turquoise Hill Resources and Rio Tinto, one of the world’s leading mining groups. Oyu Tolgoi LLC operates the Oyu Tolgoi copper-gold mine, located in the South Gobi region, about 550 kilometers south of Ulaanbaatar.

Oyu Tolgoi is one of the largest and most modern mines in the world, with a projected mine life of more than 50 years. The mine produces high-quality copper concentrate, which is shipped to customers in China and other markets. Oyu Tolgoi also produces gold as a by-product, adding to Mongolia’s precious metal reserves. Since the start of production in 2013, Oyu Tolgoi has generated over $13 billion in revenue and paid over $3 billion in taxes, royalties, and other payments to the Mongolian government.

The company is not only a source of income for Mongolia, but also a catalyst for development. The mine employs over 14,000 people, of whom 94% are Mongolian nationals. Oyu Tolgoi provides its workforce with competitive salaries, benefits and training opportunities, helping them develop their skills and careers. Oyu Tolgoi also supports local communities through various social and environmental programs, such as improving access to education, health care, water, and infrastructure.

The mining company is – as officially stated – committed to operating in a safe, responsible, and sustainable manner, respecting the environment and the culture of the local people. The mine uses advanced technology and best practices to minimize its environmental impact and maximize its efficiency. Oyu Tolgoi recycles over 80% of the water it uses and generates over 20% of its power from renewable sources. Oyu Tolgoi also works closely with local herders and nomads to protect their livelihoods and preserve their traditional way of life.

As Mongolia faces a challenging economic situation due to the COVID-19 pandemic and the slowdown in global demand for commodities, Oyu Tolgoi remains – as stated by the management – a reliable partner for the country’s recovery and growth. Oyu Tolgoi is investing in the expansion of its underground mine, which will unlock the full potential of the ore body and increase its production capacity by more than three times. The underground project is expected to create over 15,000 jobs during construction and generate over $30 billion in additional revenue for Mongolia over its life. (zi)