Ulaanbaatar
Oyu Tolgoi underground mining operations commence
视频
Within the industrial recovery policy, a part of the New
Recovery Policy of the Government, Oyu Tolgoi’s underground mining operations
have commenced today.
At
Oyu Tolgoi mine, the Prime Minister of Mongolia L.Oyun-Erdene and CEO of Rio
Tinto Jakob Stausholm together have pressed a button to commence a blasting
process, which starts Oyu Tolgoi's underground mine production.
In his speech, Prime Minister L. Oyun-Erdene emphasized, “The
commencement of the Oyu Tolgoi underground mine production is a sincere desire
of the Mongolian people giving investors the trust again.”
“The commencement of Oyu Tolgoi underground mining operations
demonstrates to the world that Mongolia can work together with investors in a
sustainable manner and become a trusted partner. As part of our ‘New Recovery
Policy’, I am happy to express Mongolia's readiness to work actively and
mutually beneficially with global investors and partners."
He also expressed confidence that the operations of underground
mine, which commences today under the resolution No: 103 approved by the
Parliament of Mongolia, will be completely operational within the agreed period
of time or in the first quarter of 2023, without incurring additional debts for
Mongolian side, making any delays or technical and economic errors again.
“As a result of our constructive talks and the joint efforts and
support of many people here, we have determined ways to move forward issues
that are important to Mongolia and reached agreement on many issues that have
been controversial over the years. In addition, Oyu Tolgoi's Board of Directors
unanimously agreed to commence the underground operations. Oyu Tolgoi is a
model company in the world for its water-efficient and recycling operations,
with a workforce whose 96 percent are Mongolians, and partners with over
600 national suppliers,” noted Mr. Jakob Stausholm.
He also emphasized that today's event demonstrates to the world
that Mongolia is a country that can attract international investors and work
together successfully by creating shared values.
When the underground mine becomes fully operational, Mongolia
will have the world's fifth-largest high-tech underground mine and become one
of major players in the international copper market. In addition, benefits to
the country’s economy and state budget will at least triple.
It is preliminarily estimated that Oyu Tolgoi LLC will have
sales worth about USD 5 billion, with tripled royalties to Mongolia, reaching
MNT 700 billion a year.
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