Media
Press release

Oyu Tolgoi in-country spend passes US$5.13 bn / MNT10.2 tr (2010-Q3 2015)

Ulaanbaatar, Mongolia,

  • Strong safety performance continues
  • Maintaining high water recycling rate of over 85 per cent
  • US$192 mn / MNT383 bn in taxes paid for first three quarters of 2015
  • National procurement spend crosses US$209 mn / MNT417 bn for three quarters

Oyu Tolgoi LLC today announced its in-country spend, from 2010 to Q3 2015, had passed US$5.13 billion or MNT10.2 trillion.

The latest edition of the company’s Performance Scorecard also provided details of Oyu Tolgoi’s best-in-class water efficiency and recycling rate, strong safety performance, and latest figures for taxes paid and national procurement spend to-date this year.

Oyu Tolgoi President and CEO, Andrew Woodley, said: “This has, once again, been a strong quarter for us in terms of our safety performance, productivity, and other key measures. We also passed a major milestone – crossing US$5.13 billion in terms of our in-Mongolia spend, including taxes and other payments, salaries, and spend with Mongolian suppliers.

“This latest Scorecard transparently showcases our continuing progress, and is a reminder of not just of how far Oyu Tolgoi has come, but also points towards the company’s strong potential for the future.”

Oyu Tolgoi continued its strong safety performance in the third quarter of 2015, achieving an All Injury Frequency Rate of 0.31 – better than target and making it one of the best safety performers across Rio Tinto. On the back of this, Oyu Tolgoi also achieved record production in the quarter, improving over Q2 2015 – which had been another record quarter for the business.

The Performance Scorecard is designed to provide regular updates on key parameters around the operation including safety, environmental performance, local employment, supplier spend and taxes paid, as well as broader investments in social and educational projects.

Notes to the Editor:
Conversion rate: US$1 = MNT1993.79 (Source: Mongol Bank, September 2015)

About Oyu Tolgoi LLC (www.ot.mn)

Oyu Tolgoi LLC, Mongolia's largest copper and gold mining company, is a strategic partnership between the Government of Mongolia, Turquoise Hill Resources and Rio Tinto. Located in the South Gobi, Oyu Tolgoi commenced shipment of product to customers in July 2013. Oyu Tolgoi is managed by Rio Tinto, which is investing global expertise and cutting-edge technology to help develop Mongolia’s mining industry and ensure Oyu Tolgoi is one of the world’s most advanced mines. For Oyu Tolgoi, nothing matters more than safety. The business operates under the principle that if a job cannot be done safely, it will not be done at all.

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