Oyu tolgoi project idop technical report turquoise hill. The oyu tolgoi ot project, one of the worlds largest copper and gold mines, is located in gobi desert of mongolia. Tinto on friday said its board has approved a longawaited plan to develop a huge underground copper mine at its oyu tolgoi site in. Land of genghis khan to become global copper superpower after. Two megaprojects represent the promise of mongolias mining sector. Jan 29, 2012 the move means rio, the financier of the mongolian mine at oyu tolgoi near the chinese border, faces the threat of dilution of its holding in ivanhoe or the possibility that another miner may gain a foothold on the project. This certificate applies to the technical report titled entreeoyu tolgoi joint venture project, mongolia, ni 43101 technical report, that has an effective date of 15 january, 2018 the technical report. Oyu tolgoi is situated in the southern gobi region of mongolia, approximately 550 kilometers south of the capital, ulaanbaatar. We would like to show you a description here but the site wont allow us. In 2010, the erdenes mgl llc formed a new company erdenes tavan tolgoi which would hold the licenses and manage the tavan tolgoi deposit. 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. Oyu tolgoi mining company ulaanbaatar, mongolia 8,612. Apr 04, 2016 like erdenet, further development of the oyu tolgoi project coincided with a commodities boom that began in 2002. Mongolia in partnership with ivanhoe mines and rio tinto.
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. Development of oyu tolgoi s underground mine was approved in may 2016, with first production expected in 2020. 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. A key breakthrough in may saw rio tinto and the mongolian government settle disputes over terms of the project that had seen oyu tolgois crucial. 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 oyu tolgoi mine is located in the south gobi region of mongolia. Coronavirus precautions slow work on oyu tolgoi rio tinto. Turquoise hill resources today announced that oyu tolgoi has signed a power sector cooperation agreement with the government of mongolia for the exploration of. Mongolia must accept blame over rio tinto mine dispute pm.
This project has the potential to transform mongolias economy and advance its economic transition. National instrument 43101 technical report prepared by amec minproc for ivanhoe mines ltd. Files are available under licenses specified on their description page. The move means rio, the financier of the mongolian mine at oyu tolgoi near the chinese border, faces the threat of dilution of its holding in ivanhoe or the possibility that another miner may gain a foothold on the project. Salaries posted anonymously by oyu tolgoi employees. Oyu tolgoi underground mine development and financing. The oyu tolgoi copper and gold project oyu tolgoi is being. Land of genghis khan to become global copper superpower after mega deal to build giant underground oyu tolgoi mine. United states position mongolia oyu tolgoi mining project. Rio said it was very confident of its existing rights under the private placement agreement with ivanhoe from 2006. The oyu tolgoi mine is located in an arid, water scarce region of mongolia that is already being impacted by climate variability and increased desertification. The biggest of mongolias megaprojects is the rio tintocontrolled oyu tolgoi coppergold mine, deep in the south of the gobi desert, 80. Dec, 2019 the organizational chart of oyu tolgoi displays its 18 main executives including armando torres, paul mullins and laura thomas. May 10, 2020 coronavirus precautions slow work on oyu tolgoi rio tinto.
May 09, 2016 oyu tolgoi may boost mongolias gdp may 9th, 2016, 1. New york university the world faces old and new security challenges that are more complex than our multilateral and national institutions are currently capable of managing. The ot mine alone contains over 35 million tons of copper and 1,275 tons of gold and will likely drive mongolias gdp. It is being closely watched as a barometer for the foreign investment climate in. Second complaint oyu tolgoi02 regarding the oyu tolgoi. A free inside look at oyu tolgoi salary trends based on 1 salaries wages for 1 jobs at oyu tolgoi. By julian dierkes the dutch centre for research on multinational corporations somo published a report focused on a whole list of issues related to financial and governance structures for the oyu tolgoi project. With water being a critical resource for both the livelihoods and the culture of the local herders and as well as.
Oyu tolgoi may boost mongolias gdp may 9th, 2016, 1. 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. 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. 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.
Most of oyu tolgois resource lies deep underground and a project is underway to expand the mine to more than double its output. The nyu center on international cooperation cic works to enhance international. Mongolia, the vast central asian country, entered into the oyu tolgoi investment agreement with ivanhoe mines ivn and rio tinto nyse. Fisher, tuvshintugs batdelger, andrew gurney, ragchaasuren galindev, michael begg, bat buyantsogt, esmedekh lkhanaajav and burmaa chadraaval february, 2011. Otgochuluu chuluuntseren chief executive officer, turquoise hill resources director general, department of strategic policy and planning at ministry of mining, mongolia 3. 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. Oyu tolgoi to progress the development of underground mine. Oyu tolgoi llcs majority owner 66% is turquoise hills resources, a. International cooperation is ever more necessary in meeting these challenges.
In july 2010 it was reported that the government had decided to sell 30% of erdenes tt, keep 40%, give 10% to mongolian citizens and 20% to. The project consisted of openpit and underground mines, a copper concentrator, and supporting infrastructure to produce highquality coppergold concentrate. Located in mongolias south gobi desert, oyu tolgoi is one of the worlds largest coppergold mines. The investment environment in mongolia is changing, but with any economy that is based on commodity export, the country need to be careful to diversify.
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. Oyo tolgoi owners believe the project has the potential to achieve a mill throughput of 95,000tpd. Summary of action mongolias mining sector is a significant contributor to the economy as well as a key. The project oyu tolgoi is in mine development stage. Located in the southern gobi region of mongolia, the oyu tolgoi project is developing one of the worlds largest known coppergold. Oyu tolgoi s chairman, batsukh galsan, played down the disputes in a presentation to the conference.
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. Enthusiastic report on the project by rio tinto, on one of the main copper mines in the world. The oyu tolgoi project is a joint venture between rio tinto, ivanhoe mines and the government of mongolia to develop one of the worlds largest known and unexploited coppergold deposits. The report was written by somos vincent kiezebrink and continue reading. Ganbold davaadorj chief executive officer, erdenes oyu tolgoi llc 2. The oyu tolgoi mine is a combined open pit and underground mining project in khanbogd sum within the south gobi desert, approximately 235 kilometres east of. Ivanhoe mines oyu tolgoi copper mine construction fluor. Oyu tolgoi llc ot, a company established in mongolia to implement the project. Mongolia must accept blame over rio tinto mine dispute. Mongolia to be transformed by giant rio tinto copper mine.
The oyu tolgoi mine is a combined open pit and underground mining project in the gobi desert, approximately 235 kilometres east of the omnogovi province capital dalanzadgad. Gt march 2010, from ivanhoe integrated development plan idp10. We have faced many issues to achieve what ot is today. 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. The story of the discovery of oyu tolgoi mongolia focus. The site was discovered in 2001 and is being developed as a joint venture between turquoise hill resources, rio tinto and the government of mongolia. A case study of mineral and geological exploration provides a detailed account of the exploration for copper deposits that took place in mongolia in the mid1990s, an exploration that was first started by magma copper and then continued by bhp billiton world exploration inc. It is being closely watched as a barometer for the foreign investment climate in mongolia, with strong potential to attract further investments in the country by high quality.
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. 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. Entreeoyu tolgoi joint venture project mongolia ni 43101. The rio tinto managed oyu tolgoi says its confident that disputes which have stalled the construction of the giant copper and gold mine in mongolia can be resolved. The first priority of the rio tinto and oyu tolgoi teams is the health and safety of all of our employees. The oyu tolgoi mine is located in the south gobi region of mongolia, approximately 550. Nov 17, 2011 oyu tolgois sitebased construction workforce is approximately 14,760, with approximately 11,680 working on site each day and the balance on leave. Nyu is committed to minimizing the effects of dust, noise, and traffic in the vicinity of the construction site and has developed a plan with the turner construction company nyu s construction manager for the project to implement nyu s restrictive declaration commitments to construction mitigation.
Concluding remarks the discovery of the oyu tolgoi deposit, and the erdenet deposit, shows how development momentum can result from the dynamic interface of global and local factors, and especially the influence of international or. The project also includes the development of a 150 kilometre distribution line from tavan tolgoi to the oyu tolgoi mine site. Thg locals in the south gobi dessert are nice and frenly. Our thesis is, is this a lowcost project, and oyu tolgoi is definitely in the lowest quartile. By continuing your navigation, you consent to their use. Oyu tolgoi signs power sector cooperation agreement with. Mongolia clears way for oyu tolgoi mine marketwatch. It primarily produces copper but also small amounts of gold, silver and other metals. If we use current prices project economics are significantly worsened, though the underground mine development remains viable on a forward looking basis. Oyu tolgoi gold and copper project, mongolia mining technology. Turquoise hill files 2014 oyu tolgoi technical report. Oyu tolgoi very large copper and gold mine, rio tinto. Oyu tolgoi deposit umnugovi province, is situated approximately 80 kilometers.
Rio tinto oyu tolgoi coppergold mine mongolia project overview. Jul 28, 2012 visited the oyu tolgoi mine great project. Oyu tolgoi llcs majority owner 66% is turquoise hills resources, a canadian public company listed on the toronto stock exchange. Pursuant to the ia and the arsha, ot llc is developing and operating the oyu tolgoi. The oyu tolgoi mining project is the largest financial undertaking in mongolias history and is expected upon completion to account for more than 30% of the countrys gross domestic product. Jacobs wins epcm contract for oyu tolgoi underground project. This puts it in a competitive position to withstand fluctuations in the market price. 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. Mar 30, 2016 the project is currently stalled, but hopes are high that a deal can now be reached, given the governments new stance and the precedent of oyu tolgoi. The project 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.
Oyu tolgoi, also known as turquoise hill, gold and copper project is located in the south gobi region of mongolia, approximately 550 km due south of ulaanbaatar and 80 km north of the chinesemongolian border. 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. Oyu tolgoi very large copper and gold mine, rio tinto, mongolia. For international development agencies, the most important factor is how a project will affect the community it. Since 2010, rio tinto has also been the manager of the oyu tolgoi project. In 2016, oyu tolgoi s openpit mine produced 201 thousand tonnes of copper. Copper production is expected to reach 450,000 tonnes annually. An investment agreement for the first major mining project in the country is expected to act as a.