"As pioneers in mining and metals, we produce materials essential to human progress."
At Rio Tinto, we know we must work in a way that delivers real, lasting benefits for the countries and communities in which we operate. We must respect and care for the environment while we operate, and return the land to nature when mining stops. We must contribute our fair share to local and national economies, including through taxes, and do so transparently. This is The way we work in Mongolia.
In Mongolia, we are proud to work with the Government of Mongolia and Turquoise Hill Resources to develop Oyu Tolgoi – one of the largest and highest quality copper-gold development projects in the world. With a potential productive life lasting several generations, it represents a unique opportunity to bring lasting sustainable development to Mongolia.
Oyu Tolgoi is jointly owned by the Government of Mongolia (34 per cent) and Turquoise Hill Resources (66 per cent, of which Rio Tinto owns 51 per cent). Rio Tinto provides strategic management and support to the Oyu Tolgoi project.
Rio Tinto is working with the Government of Mongolia and Turquoise Hill Resources to build trust and prosperity among all stakeholders and to ensure this valuable resource benefits Mongolia at every level – from local employment, education and the environment to the national economy.
Since the start of construction in 2010, over US$8 billion has already been spent directly in Mongolia, creating significant economic and social opportunities for Mongolians –through employment, supplier partnerships and community investment. By the time the underground project begins production in mid-2020, we anticipate that Oyu Tolgoi shareholders will have invested approximately US$12 billion in developing the open pit and underground project.
Rio Tinto's commitment to Mongolia extends beyond Oyu Tolgoi
In January 2018, we opened an office in Ulaanbaatar to further strengthen our presence in Mongolia and to deepen relationships with our Mongolian partners and stakeholders.
The new office, which is separate from Oyu Tolgoi LLC, houses Rio Tinto's Exploration team, Country Director's office, and the Mongolia Delivery Centre (MDC), a local branch of Rio Tinto's Information Systems and Technology team.
The launch of the office in Mongolia is a testament to our talented Mongolian workforce who have been a driving force behind our operations both in Mongolia and globally. This is especially true of the MDC, where Mongolians support Rio Tinto's global operations. By investing more in Mongolia we are creating future leaders for our global business and exporting Mongolia's intellectual talent around the world.