Oyu Tolgoi shareholders
Oyu Tolgoi shareholders
The Oyu Tolgoi project is jointly owned by the Government of Mongolia. The three shareholders are represented by:
Erdenes Oyu Tolgoi LLC is the Mongolian state-owned company that has been entrusted to own the Government of Mongolia's 34 per cent interest in Oyu Tolgoi LLC. As a shareholder, Erdenes Oyu Tolgoi LLC supervises the management of Oyu Tolgoi LLC and the progress of the project in the interests of the Government and people of Mongolia.
As a 34 per cent shareholder, Erdenes Oyu Tolgoi LLC has the right to appoint three of the members of the Board of Directors of Oyu Tolgoi LLC. Together with the members of the Board appointed by Ivanhoe Mines and Rio Tinto, their responsibility is to guide and supervise management to maximise the value of the project and Oyu Tolgoi LLC.
Turquoise Hill Resources (NYSE, NASDAQ & TSX: TRQ), formerly Ivanhoe Mines, is an international mining company focused on copper, gold and coal mines in the Asia Pacific region. The company's primary operation is its 66 per cent interest in the Oyu Tolgoi copper-gold-silver mine development in southern Mongolia, which is expected to begin commercial production in the first half of 2013. Other assets include a 58 per cent interest in Mongolian coal miner SouthGobi Resources (TSX: SGQ; HK: 1878); a 59 per cent interest in copper-gold miner Ivanhoe Australia (ASX, TSX: IVA); and a 50 per cent interest in Altynalmas Gold, a private company developing the Kyzyl Gold Project in Kazakhstan.
Rio Tinto is a leading international mining group, combining Rio Tinto plc, a London listed public company headquartered in the UK, and Rio Tinto Limited, which is listed on the Australian Securities Exchange, with executive offices in Melbourne. The two companies are joined in a dual listed companies (DLC) structure as a single economic entity, called Rio Tinto Group.
Rio Tinto’s business is finding, mining, and processing mineral resources. Its interests are diverse both in geography and products. Major products are aluminum, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and Africa.
Rio Tinto takes a long term and responsible approach to the Group’s business to deliver superior returns to its shareholders. This means concentrating on the development of first class ore bodies into large, long life and efficient operations, capable of sustaining competitive advantage through business cycles.