Press release: Oyu Tolgoi clarifies Parliament’s concerns

Media relations
Cell: +976-9908-5617

Facebook  Follow Oyu Tolgoi on Facebook

Twitter Follow @otmongolia on Twitter

You are here

Press release: Oyu Tolgoi clarifies Parliament’s concerns

February 5, 2013

Ulaanbaatar, Mongolia - Oyu Tolgoi today posted to its website responses to the issues of concern raised during last Friday’s open parliament meeting.

“During last Friday’s session, many issues were raised that Oyu Tolgoi and its investors have previously addressed through numerous meetings with government and ministry officials and staff,” said Cameron McRae, President and CEO of Oyu Tolgoi LLC.

“We remain committed to being transparent and open about our operations and actions. We expect these issues will be raised again during Wednesday’s shareholder meeting, which is the appropriate forum to ensure that the government representatives understand our responses.

“The fact that these issues are still being raised underscores the importance of our ongoing efforts to communicate fully with the government and citizens of Mongolia. As part of that transparency, we also want to make that information available to anyone who seeks to be informed about the project”.

The company’s responses to the major issues raised can be found here.

 

About Oyu Tolgoi LLC (http://ot.mn/en)

Oyu Tolgoi LLC is Mongolia's largest copper and gold mining company and is a strategic partnership between the Government of Mongolia (34 per cent stake), Turquoise Hill Resources (66 per cent) and Rio Tinto. Rio Tinto is the major shareholder in Turquoise Hill Resources and the manager of the Oyu Tolgoi project. In addition to dividends from its 34 per cent stake in Oyu Tolgoi, the Government of Mongolia will receive taxes and royalties.

Oyu Tolgoi, located in the Gobi desert in southern Mongolia, will be one of the largest and highest-grade copper and gold mines in the world. It is the largest project ever developed in Mongolia, requiring a capital investment for phase 1 of more than US$6 billion.

Oyu Tolgoi is committed to contributing to a sustainable future for Mongolia. At least 9 out of 10 employees will be Mongolian once the mine is in production and Oyu Tolgoi is investing US$58 million dollars (78 billion MNT) in training and education and an additional US$27 million dollars (36 billion MNT) in the Workforce Employment Project designed to help address the general skills shortage in Mongolia

Oyu Tolgoi's key priorities are the health and safety of employees, best-practice environmental management, contributing to sustainable communities and always doing business with integrity, for the benefit of all the project's shareholders and the people of Mongolia.

For more information, connect with us on Facebook and Twitter.