Cost of expansion at Rio Tinto's Oyu Tolgoi rises again
A cost and schedule reforecast now pegs the total project costs at $7.06 billion, almost $1.8 billion higher than its original estimate in 2015.
Rio to build power plant at Oyu Tolgoi copper-gold mine in Mongolia
The move, however, would add further costs to an ongoing $5.3 billion underground expansion of the mine, said Oyu Tolgoi LLC, Mongolia's largest copper and gold mining company, which is a ...
Our Company
Oyu Tolgoi LLC is a Mongolian company, jointly owned by Erdenes Oyu Tolgoi LLC on behalf of the Government of Mongolia (34 per cent) and Rio Tinto (66 per cent). Rio Tinto also manages Oyu Tolgoi on behalf of the partnership.Oyu Tolgoi is led by a Management Team of experts in all aspects of the mining business, and this team drives the strategic …
Oyu Tolgoi partners reach comprehensive agreement and …
4 The 500ktpa target (stated as recovered metal) for the Oyu Tolgoi underground and open pit mines is underpinned 17 per cent by Proved Ore Reserves …
Oyu Tolgoi: Impacts of Mining on Economic Outcomes …
Oyu Tolgoi also shows correlation with higher real wages earned, higher levels of remittance received by Umnogovi residents, as well as an increase in labor hours worked. The study of these changes and how the Oyu Tolgoi operation may be causing them is important for several reasons. Firstly, the mine has enormous implications for the
Rio Tinto's ongoing Oyu Tolgoi woes bring
Rio Tinto operates Oyu Tolgoi via its 50.8% ownership of Turquoise Hill Resources, which in turn owns 66% of Oyu Tolgoi, with the remaining 34% stake owned by the government of Mongolia.According to Rio Tinto, most of the value of Oyu Tolgoi is in underground deposits, and in 2015 Rio Tinto, Turquoise Hill, and the Mongolian …
Mongolia, Turquoise Hill force Rio Tinto into Oyu Tolgoi …
Mongolia's parliament ended up approving a resolution in December last year, which reconfirmed the validity of all the Oyu Tolgoi mine-related agreements. The decision brought an 18-month-long ...
Oyu Tolgoi partners reach comprehensive agreement and …
Luvsannamsrain Oyun-Erdene, the Prime Minister of Mongolia, said, "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 ...
Oyu Tolgoi partners reach comprehensive agreement and …
Oyu Tolgoi partners reach comprehensive agreement and approve commencement of underground mining operations January 24, 2022 05:46 PM Eastern Standard Time ULAANBAATAR, Mongolia.--(
Rio Tinto secures direct control of Oyu Tolgoi mine
Rio Tinto (ASX, LON: RIO) is now the majority owner of the giant Oyu Tolgoi copper-gold mine in Mongolia, as it has completed its $3.3 billion buyout of Canadian …
Oyu Tolgoi
1 The 500ktpa target (stated as recovered metal) for the Oyu Tolgoi underground and open pit mines is underpinned 17 per cent by Proved Ore Reserves and 83 per cent by Probable Ore Reserves for the years 2028-2036. These production targets have been scheduled from current mine designs by Competent Persons in accordance with the requirements of the …
Rio Tinto's $6.7bn Oyu Tolgoi to begin production in 2022
In a press statement, Rio Tinto said: "At peak production, Oyu Tolgoi is expected to operate in the first quartile of the copper cash cost curve1 and by 2030 is expected to be the fourth largest copper mine in the world." Oyu Tolgoi mine is expected to produce over 480,000t of copper per annum from the open pit and underground on …
Oyu Tolgoi resumes copper shipments to China
Oyu Tolgoi copper-gold mine in the South Gobi region of Mongolia, approximately 550 km south of the capital Ulaanbaatar, holds one of the largest undeveloped high-grade copper deposits in the world.
Rio Tinto outlines Oyu Tolgoi's path forward
The parliament ended up approving a resolution in December 2019, which reconfirmed the validity of all the Oyu Tolgoi mine-related agreements. The decision brought an 18-month-long review to a close.
Underground Development
Key facts about Oyu Tolgoi underground mine: 80 per cent of Oyu Tolgoi's value lies beneath the surface; Mining method: Block caving; Operations: The mine will work 365 days a year with two 12-hour shifts. The total conveyor length (13.2 kilometres) is as long as the distance from the Sukhbaatar Square to Tolgoit station.
Rio Tinto announces development pathway for Oyu Tolgoi …
More than $11 billion has been invested in Oyu Tolgoi to date, including the open-pit mine, concentrator and associated infrastructure. Of this, $4 billion has been spent on the underground project, with more than $3 billion awarded to Mongolian companies and suppliers. Oyu Tolgoi has a workforce of over 12,000, of which 95% is Mongolian.
Oyu Tolgoi starts underground production
Rio Tinto has begun underground production at the Oyu Tolgoi copper mine in Mongolia following a $7bn expansion. Oyu Tolgoi is now set to become the world's fourth-largest copper mine by 2030. Between 2028 and 2036, it is expected to produce enough copper annually to manufacture six million electric vehicles – around 500,000 …
Press release: OYU TOLGOI Q4 2023 PERFORMANCE RESULTS
Press release: OYU TOLGOI Q4 2023 PERFORMANCE RESULTS. Ulaanbaatar, Mongolia – Oyu Tolgoi released its latest performance scorecard highlighting key performance metrics for the fourth quarter of 2023 and provided an update on the underground mine production.. Oyu Tolgoi continues the ramp-up of the underground …
Rio Tinto in talks to avert strike at Mongolian copper mine
Rio Tinto moved underground at Oyu Tolgoi, one of the world's largest copper-gold deposits, in March last year and is ramping up to produce around 500,000 tons of copper a year from 2028 onwards.
Rio Tinto to write off $2.4bn Oyu Tolgoi loan to Mongolia
A definitive estimate for the development of the new mine level, announced in December 2020, pegged the cost of Oyu Tolgoi's underground section at $6.75 billion, about $1.4 billion higher than ...
Rio Tinto's $6.7bn Oyu Tolgoi to begin production in 2022
Global mining group Rio Tinto unveiled a pathway for the development of underground production at Oyu Tolgoi copper-gold mine in Mongolia.
Delivering the materials handling systems at Oyu Tolgoi for …
How we helped Rio Tinto unlock high grade copper from the Oyu Tolgoi mine in Mongolia. ... "This project exemplifies how effective project delivery, safety leadership, innovative solutions, and a commitment to social responsibility helps to not only overcome complex challenges to deliver projects successfully but adds value to our customer ...
Major Mines & Projects | Oyu Tolgoi Mine
Oyu Tolgoi mine is one of the world's largest copper-gold mines. Rio Tinto delivered first sustainable underground production from Panel 0 in March 2023. Oyu Tolgoi underground spend expected to be complete by end-2025. The commissioning of infrastructure for ramp-up to full capacity remains on target: Rio Tinto expect shafts 3 and 4 and the ...
Oyu Tolgoi partners reach comprehensive agreement and …
Rio Tinto continues to work with the Government of Mongolia and TRQ to finalise the remaining outstanding measures of Resolution 92, namely the formal termination of the …
Rio Tinto strikes power deal for Oyu Tolgoi
This would make it the biggest new copper mine to come on stream in several years. Oyu Tolgoi produced 35,203 tonnes of copper and 26,154 ounces of gold in the first three months of this year, on ...
Oyu Tolgoi
At Oyu Tolgoi, we are using technology to build a connected mine and keep our people safe. We are installing a wireless network to connect our people and equipment …
Rio Tinto and Mining in Mongolia: The Oyu Tolgoi Deposit Case Solution
In 2013, Rio Tinto was anticipated to start commercial shipments from Oyu Tolgoi, a copper and gold mine in the Gobi Desert of Mongolia. Oyu Tolgoi was one of the last great unmined deposits in the world, and, once operation were in full swing, was probable to stand for around a tenth of the profits of Rio Tinto and over a quarter of …
Searching for another Oyu Tolgoi: Mongolia's big mining expansion
There is already large-scale mining in Mongolia, the most famous operation being Oyu Tolgoi copper-gold mine in the South Gobi region. Part owned by the Government of Mongolia (34%) and Turquoise Hill Resources (66%) and managed by Rio Tinto, the majority owners of Turquoise Hill Resources.
Jacobs to develop $5.3bn Oyu Tolgoi copper and gold mine …
"The Oyu Tolgoi underground project is one of the largest mining projects worldwide. We are excited at the opportunity to contribute significant value to our client and the nation of Mongolia." First draw bell production from Oyu Tolgoi is expected in 2020.