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The Oyu Tolgoi copper-gold mine deal between the Mongolian government and Rio Tinto was signed in 2009, with its financing arrangement revised in 2015. However, the underground expansion of the Oyu Tolgoi project had been hit by frequent disputes and delays over geotechnical difficulties, costs, the COVID-19 pandemic and others.
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Rio Tinto, Turquoise Hill Resources (TRQ) and the Government of Mongolia have reached an agreement that, Rio says, will move the Oyu Tolgoi (OT) project forward, resetting the relationship between the partners and increasing the value the project delivers for Mongolia. As a result, the OT Board, comprised of representatives of Rio …
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The Oyu Tolgoi deposits lie within the middle to late Palaeozoic Kazakh-Mongol magmatic arc, part of the Transbaikal-Mongolian orogenic collage (Yakubchuk, 2002, Yakubchuk, 2005), which with the Altaid tectonic collage to the west (Sengör et al., 1993, Sengör and Natal'in, 1996, Yakubchuk, 2004), forms the 5000 km long, by up to …
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The Lift 1 comprises three panels (Panel 0, Panel 1, and Panel 2). The initial investment decision to construct Phase 1 of Oyu Tolgoi was made in 2010. Mining of the Oyut deposit started in 2012 using open pit mining methods. The Oyut open pit mine currently has an ore production rate of about 40 Mtpa.
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Introduction. "Friedland came out his helicopter. He had a red jumper and running shoes on. He kissed the land and run straight to the Oyu Tolgoi discovery site.". A local elder told me this story. The date is not clear but he surely referred to the early 2000s when there was exploding excitement around the discovery of the Oyu Tolgoi deposit.
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Rio Tinto unveiled a pathway for the ongoing development of the underground project at Oyu Tolgoi in Mongolia, one of the largest known copper and gold deposits in the world (earlier post).The definitive estimate details how Oyu Tolgoi underground will achieve sustainable production for Panel 0 by October 2022 for …
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The Oyu Tolgoi project seems on track for now. There are still political challenges ahead. On December 30, 2021, the parliament of Mongolia adopted a resolution outlining the steps the country should take to improve its agreement with mining giant Rio Tinto, which manages the Oyu Tolgoi copper and gold mining joint venture (see box below).
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