Copper & Gold
Q4 2019 figures. 93% of workforce is Mongolian. Oyu Tolgoi also produced 281,840 ounces of gold and 866,000 of ounces silver. Rio Tinto owns 50.8% of Turquoise Hill Resources, which owns 66% of Oyu Tolgoi.
South Gobi, Mongolia
Oyu Tolgoi, in the South Gobi region of Mongolia, is one of the largest known copper and gold deposits in the world. It is also one of the most modern, safe and sustainable operations in the world. When the underground is complete, it will be the world’s third largest copper mine.
Open pit mining began at Oyu Tolgoi in 2011 and the copper concentrator, the largest industrial complex ever built in Mongolia, began processing mined ore into copper concentrate in 2013. Current infrastructure at Oyu Tolgoi will allow the mine to operate for decades to come.
Oyu Tolgoi is jointly owned by the government of Mongolia, which has 34% ownership, and Turquoise Hill Resources, which owns 66%. Rio Tinto owns 50.8% of Turquoise Hill Resources and manages the operation on behalf of the owners.
Global demand for copper is set to grow, driven by urbanisation, industrialisation and increasing requirements for renewable energy: copper plays a key role in electrification and power production. For example, a wind turbine capable of generating a megawatt of power – enough to supply several hundred homes – needs more than three tonnes of copper.
Given its significance to the global copper industry and the likely multi-generational nature of the business, Oyu Tolgoi is being developed with a distinctly long-term view. Guided by Oyu Tolgoi's vision, 'From natural wealth to enduring value, knowledge and skill', the partners and stakeholders involved in the project are focused on delivering a safe and globally competitive copper business that contributes to and facilitates the prosperity of Mongolia.
At full production, the underground mine will produce 95 thousand tonnes of ore each day. This will triple Oyu Tolgoi’s annual production of copper concentrate; making us the world’s third largest copper mine.