Mongolian pm meets rio tinto chief to explore oyu tolgoi project. Oyu tolgoi provides update on mongolian domestic power. Ot is 66% ultimately owned by turquoise hill resources ltd formerly, ivanhoe mines ltd, a canadian mining group, and 34% by erdenes oyu tolgoi llc, a corporate body owned by the mongolian state. Oyu tolgoi underground mine development and financing. All content is posted anonymously by employees working at oyu tolgoi. Gt march 2010, from ivanhoe integrated development plan idp10.
Turquoise hill provides update on oyu tolgoi project. Oyo tolgoi owners believe the project has the potential to achieve a mill throughput of 95,000tpd. Jul 19, 2019 mongolia will vote in august to rip up parts of an investment agreement with rio tinto for the oyu tolgoi copper mine, which may force the miner to make concessions in a project beset by delays. The site was discovered in 2001 and is being developed as a joint venture between turquoise hill resources a majority. Gobi oyu development support fund was established on september 25, 2015 as a standalone legal entity to implement the cooperation agreement between oyu tolgoi llc and its partner communities composed of the umnugovi aimag, and the khanbogd, manlai, bayanovoo and dalanzadgad soums. Rio tinto under fire as mongolia presses for mine deal. Oyu tolgoi mining company ulaanbaatar, mongolia 8,637.
Oyu tolgoi has a projected mine life of at least 40 years and is set to generate thousands of jobs and billions of dollars in. The government of mongolia owns 34% of the oyu tolgoi project and ivanhoe mines owns a 66% interest in the mine. Provided that the expansion is undertaken as scheduled, the idp indicates that oyu tolgoi open pits could produce 35 billion pounds of copper and 11 million ounces moz of gold over the projected, initial 35year life of the mine, based on. Two megaprojects represent the promise of mongolias mining sector.
Discover a wide range of company and businessrelated rio tinto documents in pdf form. This project will no longer be a target of political rhetoric but will be a beacon of mongolias growth. There are several deposits that make up oyu tolgoi which is a combined openpit and underground project. Memories of the exploration of the oyu tolgoi project. Enthusiastic report on the project by rio tinto, on one of the main copper mines in the world. We are excited at the opportunity to contribute significant value to our client and the nation of mongolia.
May 03, 2020 coronavirus precautions slow work on oyu tolgoi rio tinto. On october 6, 2009, turquoise hill resources and rio tinto signed a longterm, comprehensive. The first priority of the rio tinto and oyu tolgoi teams is the. Executive summary an overview of oyu tolgoi phase 2 mining plans and some of the issues and risks associated with block cave underground mining, international metal price uncertainty, project power supply, and impacts on water resources used by herders. The indirect effect is greater than the direct impact by the early 2040s. The oyu tolgoi mine is located in the south gobi region of mongolia, approximately 550. Mongolian pm meets rio tinto chief to explore oyu tolgoi. Oxfam australia submission on the oyu tolgoi coppergold mine project. It is 150 km from oyu tolgoi and about 240 km north of the chinese border. Oxfam australia submission on the oyu tolgoi coppergold mine. Oyu tolgois direct contribution is expected to decline after 2020 as production slows. Executive summary an overview of oyu tolgoi phase 2 mining plans and some of the issues and risks associated with block cave underground mining, international metal price uncertainty, project power supply.
Tavan tolgoi has coking coal deposit used in steelmaking, with reserves estimated at 7. To create a return travel plan from ulaanbaatar to oyu tolgoi, please enter start and end locations in calculator control and go to the return travel option for complete travel summary. Mongolia will vote in august to rip up parts of an investment agreement with rio tinto for the oyu tolgoi copper mine, which may force the miner. Mongolia to be transformed by giant rio tinto copper mine. Ifc is supporting economic growth in mongolia by investing in private sector companies and initiatives that create jobs, generate government revenues and follow high operating standards. The ot mine alone contains over 35 million tons of copper and 1,275 tons of gold and will likely drive mongolias gdp growth for at least the next three decades. The project is expected to be a significant contributor to regional development and is jointly government owned. Ulaanbaatar, mongolia oyu tolgoi llc wishes to clarify how it will deliver a longterm domestic power solution for oyu tolgoi in response to recent commentary. Since mid2016 they have been using the central model. Oyu tolgoi, a recent bankwatch field visit shows a complete lack of opportunities.
Autoplay when autoplay is enabled, a suggested video will automatically play next. Oyu tolgoi llc is the name of the joint venture company that holds the mine licences. Oyu tolgoi was one of the last great unmined deposits in the world, and, once operations were in full swing, was expected to constitute around a tenth of rio tintos profits and over a quarter of mongolias gdp. Oyu tolgoi is projected to increase the size of the mongolian economy by over 35% by 2020 mongolian real gross domestic product mnt trillions and annual growth by 2020 oyu tolgois impact will increase gdp by around a third. Oyu tolgois initial phase started production in 20 after an investment of. Oyu tolgoi very large copper and gold mine, rio tinto, mongolia. The oyu tolgoi mine is a combined open pit and underground mining project in mongolias south gobi desert approximately 550km south of the capital, ulaanbaatar and 80km north of the mongoliachina border. These documents relate to policies and standards of rio tinto. One of the first and most important products of the esia process is establishment of baseline or pre project. Jacobs wins epcm contract for oyu tolgoi underground project. Pronunciation of oyu tolgoi with 1 audio pronunciation, 4 translations and more for oyu tolgoi. The psca laid out a framework for cooperation between the government of mongolia and oyu tolgoi llc to deliver a.
Plans, issues and risks an overview of oyu tolgoi phase 2 mining plans and some of the issues and risks associated with block cave underground mining, international metal price uncertainty, project power supply, and impacts on water resources used by herders. By 2003 there were 18 exploration drill rigs on the project employing approximately 200 people, and oyu tolgoi was the biggest mining exploration project in the world. Inside mongolias manhattansized megamine bloomberg. If we had 2010s prices in 2020 oyu tolgoi would directly account for nearly a third of the economy. They have been mining the open pit since 20 and the underground mine hugo. Oxfam australia submission on the oyu tolgoi coppergold. Oyu tolgoi is committed to creating an environment of zero harm, but this depends on knowing environmental and social baseline conditions pre project so that zero harm can be assessed. In 1984, mongolia embarked on a program to restructure its political and economic system and modernize the country. The project also includes the development of a 150 kilometre. Purpose of the environmental and social impact assessments. Fisher, tuvshintugs batdelger, andrew gurney, ragchaasuren galindev, michael begg, bat buyantsogt, esmedekh lkhanaajav and burmaa chadraaval february, 2011.
Financing for the project has come in part from the rio tinto group and an investment agreement between ivanhoe mines and the government of mongolia. Second complaint oyu tolgoi02 regarding the oyu tolgoi. Oyu tolgoi is the ultimate business project starting today. Work on the oyu tolgoi underground project, in mongolia, has been slowed as a result of measures put in place by mongolia to contain the spread of covid19, diversified mining major rio tinto said on monday. The ebrd is considering a project involving the development, construction and operation of a mine and ore processing facility at the oyu tolgoi copper, gold, silver and molybdenum deposit located in the southern gobi region of mongolia. Rio tinto says it remains confident in the longterm prospects for copper, as it pushes ahead with a multibilliondollar expansion of its key oyu tolgoi mine. Oyu tolgoi to progress the development of underground mine. The oyu tolgoi mine is located in the south gobi region of mongolia. View oyu tolgoi project fiscalmodelnarrativereport. Rio tinto on friday said its board has approved a longawaited plan to develop a huge underground copper mine at its oyu tolgoi site in.
Oyu tolgoi llc ot, a company established in mongolia to implement the project. Pursuant to the ia and the arsha, ot llc is developing and operating the oyu tolgoi. In january 20 oyu tolgoi started producing concentrate from the mine. You can also check the trip cost from ulaanbaatar to oyu tolgoi as it estimates the cost of fuel incurred on your trip. Turquoise hill files 2014 oyu tolgoi technical report. On 15 february 2018 the government of mongolia cancelled the southern region power sector cooperation agreement psca. It primarily produces copper but also small amounts of gold, silver and other metals. Gcr mongolias contract for sinking shafts 3 and 4 includes the construction of two shafts that will provide additional air ventilation into the existing tunnels of the operating mine. Jacobs engineering has signed a contract for underground works at rio tintos mongolian oyu tolgoi copper gold mine. Ivanhoe mines oyu tolgoi copper mine construction fluor. The oyu tolgoi mining project is the largest financial undertaking in mongolias history and is expected upon completion to produce 450,000 tonnes of copper annually.
Ivanhoe mines and rio tinto, two of the worlds leading mining companies, and the mongolian government formed a strategic partnership for construction and operation of the oyu tolgoi project. The oyu tolgoi mining project is the largest financial undertaking in mongolias history and is expected upon completion to produce 450,000 tonnes 500,000 short tons of copper annually. You can also try a different route while coming back by adding multiple destinations. Oct 28, 2014 turquoise hill files 2014 oyu tolgoi technical report. Anton rhling program manager oyu tolgoi financial model. Jacobs will carry out engineering, procurement and. We would like to show you a description here but the site wont allow us. Turquoise hill resources suite 3680 1 place villemarie montreal, quebec, canada h3b 3p2.
May 19, 2015 rio controls the project through its majority ownership of turquoise hill, the separatelylisted canadian miner that owns 66 per cent of oyu tolgoi. Press release for immediate release ot watch mongolia. Montreal, march 16, 2020 prnewswire since january, the movement of goods and people within mongolia has been restricted within and across its borders to prevent the spreading of the novel coronavirus covid19. Jacobs engineering wins rio tinto oyu tolgoi contract.
But the terms of the deal were being threatened by elections in mongolian and a change in voter sentiment towards the project. The oyu tolgoi gold and copper project, also known as turquoise hill, is situated in the south gobi region of mongolia, around 80km north of the chinesemongolian border and 550km south of ulaanbaatar. The project consisted of openpit and underground mines, a copper concentrator, and supporting infrastructure to produce highquality coppergold concentrate. Jec announced today it signed a contract with oyu tolgoi llc to provide engineering, procurement and construction management epcm services for the next stage in the development of the oyu tolgoi copper and gold mine in mongolia, the oyu tolgoi underground project. Londonbusiness wire rio tinto is working with the government of mongolia to ensure oyu tolgoi is operating in accordance with the restrictions the mongolian authorities have put in place to contain the spread of covid19.
Land of genghis khan to become global copper superpower after mega deal to build giant underground oyu tolgoi mine. Pdf the story of the discovery of oyu tolgoi researchgate. Report on coal fired power station from talvan togoi to provide electricity to the oyu tolgoi copper mine. The project also includes the development of a 150 kilometre distribution line from tavan tolgoi to the oyu tolgoi mine site. The ot mine alone contains over 35 million tons of copper and 1,275 tons of gold and will likely drive mongolias gdp. Jun 09, 2016 the oyu tolgoi underground project is one of the largest mining projects worldwide. Oyu tolgoi gold and copper project, mongolia mining technology. Oyu tolgoi is one of the largest known copper and gold deposits in the world. Oyu tolgoi very large copper and gold mine, rio tinto. The ebrd is considering a project involving the development, construction and operation of an open pit and underground mine and ore processing facility at the oyu tolgoi copper, gold, silver and molybdenum deposit located in the southern gobi region of mongolia, in the eastern part of omnogovi aimag in khanbogd soum, approximately 220. Oyu tolgoi shareholders sign agreement to progress the development of underground mine. Oyu tolgoi ot is a large copper and gold mine in khanbogd soum, umnugobi province, approximately 80 kilometres north of the mongoliachina border and 550 kilometres south of capital, ulaanbaatar. This report sets out our analysis of huge oyu tolgoi mining project in mongolia, based entirely on public sources, and mainly on a 2014 technical report.
Learn more about the worlds leading mining operations company today. The oyu tolgoi mine is a truly enormous project a 3d scale model of manhattan island dominated by oyu tolgoi copper reserve gives us a sense of. Oyu tolgoi llcs majority owner 66% is turquoise hills resources, a canadian public company listed on the toronto stock exchange. At the time, the project was being considered for financing by ifc and miga1. Oyu tolgoi llcs majority owner 66% is turquoise hills resources, a canadian public company listed on the. To create a travel plan from ulaanbaatar to oyu tolgoi, start by entering start and end locations in calculator control and go to the create travel plan. Oyu tolgoi llcs majority owner 66% is turquoise hills resources, a. John chadwick described the whole oyu tolgoi project in detail in the april and may 2011 issues of the magazine, including much of the underground block cave planning.
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