Finding better ways to find the materials the world needs
Oyu Tolgoi 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
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Product
Copper production (our share) /163.01Kt (100%)
Ownership
First production
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.
The Oyu Tolgoi underground development consolidates our position as a leading global producer of copper, a material essential for decarbonisation and electrification. When the underground is fully operational, it will be the fourth largest copper mine in the world.
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.
In January 2022, the Oyu Tolgoi Board approved the beginning of underground operations. This step unlocks the most valuable part of the mine, with sustainable underground production expected in the first half of 2023.
Oyu Tolgoi is jointly owned by the government of Mongolia, which has 34% ownership, and Rio Tinto, which owns 66%. Rio Tinto manages the operation on behalf of the owners.
At peak production, Oyu Tolgoi is expected to produce 500,000 tonnes1 per annum of copper – equivalent to what’s needed to build:
Wind turbines per day
Electric battery vehicles per day
1The 500ktpa target (stated as recovered metal) for the Oyu Tolgoi underground and open pit mines is underpinned 17 per cent by Proved Ore Reserves and 83 per cent by Probable Ore Reserves for the years 2028-2036. These production targets have been scheduled from current mine designs by Competent Persons in accordance with the requirements of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves, 2012 Edition (the JORC code).
Most of the value lies deep underground and to reach the ore body we are building a world-class underground mine. It will include a state-of-the-art control room to oversee the operation that will have approximately 200 kilometres of tunnels.
Deepest Reaching 1.3KM
Average Tunnel Height & Width
We will use leading underground mining technology known as block caving to mine the ore body. Block caving is technically complex, but it is also one of the safest and most cost-effective methods of mining ore from deep below the ground as it uses the force of gravity.
Put simply, a void is created under the ore body, which then collapses gradually under its own weight. The ore passes through ‘funnels’ in the rock, known as draw points. A series of lateral tunnels over several levels are used to extract the ore and to haul it for crushing before it is transported to the surface via shaft or conveyor belt.
On 16 December 20201, we confirmed the definitive estimate of cost and schedule for Panel 0 with sustainable production expected to commence in October 2022 and development capital of $6.75 billion. These estimates include the known impacts of COVID-19.
At Oyu Tolgoi, we are using technology to build a connected mine and keep our people safe. We are installing a wireless network to connect our people and equipment underground with the teams on the surface. All team members have a Personal Location Indicator, which allows us to track their whereabouts, providing critical information during an emergency. Similar sensors allow us to track the location and performance of all equipment and we have real time monitoring of atmospheric conditions. The team in Mongolia are supported by the Rio Tinto Underground Mining Centre, which connects our caving experts in the Brisbane hub with our operations team at Oyu Tolgoi. These groups work together to improve safety and productivity performance by using the vast amount of data being collected.
1Project baseline reporting has been updated following endorsement of the definitive estimate by Rio Tinto Board and Turquoise Hill Resources (pending Oyu Tolgoi board approval). The definitive estimate assumed COVID-19 restrictions in 2021 that were no more stringent than those experienced in September 2020 and noted that should COVID-19 constraints continue beyond 2021 or should the COVID-19 situation escalate further in 2021 leading to tougher restrictions, additional costs and schedule impacts will arise. Since the definitive estimate, at the end of 2020, Mongolia implemented additional restrictions in response to community transmission cases, and in March 2021 the first cases of COVID-19 were identified at Oyu Tolgoi resulting in temporary site shutdown, quarantine measures and further travel and movement restrictions. The impact of these additional restrictions, which have continued throughout this period and are beyond those experienced in September 2020, is ongoing and still to be determined.
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 peak production, Oyu Tolgoi is expected to produce 480,0002 tonnes of copper per year on average, from 2028 to 2036, from the open pit and underground. By 2030 it is expected to be the fourth largest copper mine in the world.
2 This production target (stated as recovered metal) for the Oyu Tolgoi underground and open pit mines was previously reported in a release to the market on 16 December 2020 (market release). All material assumptions underpinning the production target continue to apply and have not materially changed.
ULAANBAATAR, Mongolia--(BUSINESS WIRE)-- 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. This was followed by a ceremony with Oyu Tolgoi employees and leaders, Government of Mongolia representa
LONDON--(BUSINESS WIRE)-- Rio Tinto has completed its acquisition of Turquoise Hill Resources Ltd (TSX: TRQ) (NYSE: TRQ) (“Turquoise Hill”) for a consideration of approximately $3.1 billion1, simplifying its ownership of the world-class Oyu Tolgoi mine in Mongolia, significantly strengthening Rio Tinto’s copper portfolio, and demonstrating its long-term commitment to the project and Mongolia.
Monnis Tower Chinggis Avenue 15 Sukhbaatar District Ulaanbaatar 14240 Mongolia
E: OT Enquiries T: +976 11 331880
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