The Prime Minister of Mongolia, Luvsannamsrain Oyun-Erdene, today joined Rio Tinto Chief Executive Jakob Stausholm 1.3 kilometres underground to celebrate the commencement of underground production from the Oyu Tolgoi copper mine in the Gobi Desert.
Since the agreement in January 2022 by both parties, 30 draw bells have been blasted and copper is now being produced from the underground mine. By 2030 Oyu Tolgoi is expected to become the fourth-largest copper mine in the world.
Oyu Tolgoi open pit and concentrator have been successfully operating for over a decade. The total workforce of Oyu Tolgoi is currently around 20,000 people, of which 97% are Mongolian.
Developing the underground mine with an investment of over $7 bn, Oyu Tolgoi is expected to produce around 500,000 tonnes of copper per year on average from 2028 to 2036 from the open pit and underground.
Prime Minister of Mongolia Oyun-Erdene said, “The start of underground production at Oyu Tolgoi demonstrates our ability to work together with investors in a sustainable manner and become a trusted partner. The next phase of the partnership will enable the continued successful delivery of Mongolia’s ‘New Recovery Policy’ and Vision 2050 economic diversification strategy. Mongolia stands ready to work actively and mutually beneficially with global investors and partners.”
Rio Tinto Chief Executive Jakob Stausholm said, “We would like to thank the Government of Mongolia for their commitment as our partner in achieving this remarkable milestone. The copper produced in this true world-class, high technology mine will help deliver the electrification needed for a net zero future and grow Rio Tinto’s copper business.”
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
Since the agreement in January 2022 by both parties, 30 draw bells have been blasted and copper is now being produced from the underground mine. By 2030 Oyu Tolgoi is expected to become the fourth-largest copper mine in the world.
Oyu Tolgoi open pit and concentrator have been successfully operating for over a decade. The total workforce of Oyu Tolgoi is currently around 20,000 people, of which 97% are Mongolian.
Developing the underground mine with an investment of over $7 bn, Oyu Tolgoi is expected to produce around 500,000 tonnes of copper per year on average from 2028 to 2036 from the open pit and underground.
Prime Minister of Mongolia Oyun-Erdene said, “The start of underground production at Oyu Tolgoi demonstrates our ability to work together with investors in a sustainable manner and become a trusted partner. The next phase of the partnership will enable the continued successful delivery of Mongolia’s ‘New Recovery Policy’ and Vision 2050 economic diversification strategy. Mongolia stands ready to work actively and mutually beneficially with global investors and partners.”
Rio Tinto Chief Executive Jakob Stausholm said, “We would like to thank the Government of Mongolia for their commitment as our partner in achieving this remarkable milestone. The copper produced in this true world-class, high technology mine will help deliver the electrification needed for a net zero future and grow Rio Tinto’s copper business.”
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
