President and Chief Executive Officer, Oyu Tolgoi
Ministers, Government Officials, Ambassadors and guests…today’s momentous achievement is a very proud moment for Oyu Tolgoi.
With the concentrator activated, Oyu Tolgoi will begin producing the first copper concentrate in the first quarter of 2013. This will soon be followed by commercial production the first half of next year.
And while the project is on track, it’s only the beginning of our journey together. Once commercial production begins, we will only be processing ore obtained close to the surface – from the open pit.
Our marathon will only be 20 per cent complete, as 80 per cent of the value remains deep underground. The underground expansion phase, from which Mongolia will benefit the most, is anticipated to begin in 2016. And together, we will successfully reach this goal.
Chairman of the Board of Directors
Ladies and Gentlemen, Members of Mongolian Parliament, Mining Minister, Government Representatives, ambassadors to Mongolia, representatives from the local government and media:
First and foremost, I would like to extend my sincere gratitude to all of you for taking time away from work to attend this important event. On behalf of Oyu Tolgoi’s hardworking team of about 18 thousand, the Board of Directors and the company management, I am extremely pleased and proud to share this enthralling news at the doorstep of a new year, and have the rare opportunity to host all of you today as we switch on the new plant.
I am extremely happy for this occasion happening on the 101th year of Mongolian Independence.
Oyu Tolgoi’s concentrator complex is now ready to commence operation as result of the tremendous effort of Oyu Tolgoi’s employees, both nationals and expats, and contractors who worked day and night, for 1,125 days or 38 months, since the Investment Agreement was signed in October 2009. The Concentrator is the Heart of Oyu Tolgoi operation. And the heart will now to start beating – to process ore and produce concentrate. This plant is comprised of the world-class and leading technology and equipment.
Member of Parliament, Member of Cabinet, Mining Minister
Greetings of day to all guests, representatives, investors and all employees of Oyu Tolgoi Company who came here to participate in opening of Oyu Tolgoi project concentrator. It is been 3 years since Government of Mongolia and the investors signed the Oyu Tolgoi Investment Agreement.
Oyu Tolgoi LLC, a joint venture between Government of Mongolia and investors from “third neighbor” successfully undertook construction and development work of the project at the threshold of 90th anniversary of development of mining sector in Mongolia.
Today, availing myself this opportunity of being invited in the opening ceremony of Oyu Tolgoi copper concentrator with most advanced equipment and technology and standard, I would like to sincerely congratulate for all people who took part in this development work as Mining Minister of Mongolia and on behalf of Government of Mongolia. Oyu Tolgoi’s progress as the guarantee of our mineral wealth left for us by our ancestors is the result of Rio Tinto’s effective project management and financial capabilities.