Oyu Tolgoi’s OPEX estimated to decrease in 2017

Economy | Mining
2016-12-19 16:28:28

Ulaanbaatar /MONTSAME/ Oyu Tolgoi’s underground mine is expected to release the first production in mid-2020, and to begin stable operations in early 2021, announced Turquoise Hill Resource.

The company has completed operational and financial estimates for 2017.

According to the estimates, Oyu Tolgoi is planned to produce 130-160 thousand tons of copper in concentrate, 100-140 ounces of gold in concentrate.

In the margin of the open pit mining, the sixth stage of the OT mine is to be operated, while a fourth stage of stripping will be implemented.

The operational expenditure for 2017 is predicted to amount to USD 720 million. This represents a decrease compared to the expected total OPEX of 2016.

The capital expenditure for the open pit mine in cash is expected to reach USD 100 million, whereas the CAPEX for underground mine is estimated to be at USD 825-925 million in 2017.