Development based on mutual agreement
The operation already makes a major direct contribution to the Mongolian economy and society. In addition to its contributions through taxation, the multi-billion dollar investment, which includes thousands of relatively well-paid employees and contractors, has a “multiplier effect”, stimulating the economy indirectly.
Armando Torres, managing director, Oyu Tolgoi, said partnerships were central to the way Rio Tinto shared the value created from the region’s highly valuable resources.
"To be successful, any project we develop has to deliver mutual benefit through genuine partnership,” Armando said.
"The ideal legacy for Oyu Tolgoi is that together with our employees and our partners in the government, our neighbouring communities and our suppliers, we deliver a sustainable, world-class Mongolian business that generates ongoing value for the country and showcases the capabilities and assets of Mongolia for generations to come."
Partnerships require an understanding of social and environmental impacts in great detail, and in the context of a project that spans a long timeframe and many stakeholders. To date, partnership agreements have underpinned the value this operation has released for all involved.