Chance for Mongolia which lays underground

2015-12-02 14:46:41

Ranked fifth in the world by gold and copper resources, the Oyu Tolgoi mineral deposit is located in southern region of Mongolia. The transnational Rio Tinto Group is doing exploitation works there.

The exploitation works are projected to be performed in several methods of both underground and typical mining on the Oyu Tolgoi deposit which is expected to be used for 60 years. It is noticeable that the deposit’s 80 per cent of the proven resources possess 3-4 times enriched resources than the exploited ore in open pit. It means that the most enriched ore lays underground. Thus, an underground mine is being built 135 meters below the sea level or 1,300 meters down from the soil level, in order to exploit the mineral resource.

The exploitation works to be done underground mine of Oyu Tolgoi is expected to have less cost than the open pit exploitation, and safety level is also will be high.

Oyu Tolgoi company is currently exporting its enriched ore. By the third quarter of this year, Oyu Tolgoi mine has earned 431.7 million US dollars after selling 226 thousand tons of concentrate. It shows an increase of 2.5% against the second quarter of 2015.

A feasibility study for the second phase of the underground mine is expected to be completed in the first quarter of 2016. A financing will be transferred in that time. The construction works of the mine is projected to continue for 5-7 years. In addition, the construction of the mine will create over 3,000 job places.

In terms of the economic profits, Oyu Tolgoi company will be able to sell 1.8 million tons of copper concentrate a year. As of present, the company is processing 100 thousand tons of ore a day, and producing 700 thousand tons of copper concentrate per year.