Oyu Tolgoi today announced an update on its production for the second quarter of 2016.
Andrew Woodley, Chief Executive Officer of Oyu Tolgoi, said, “I am very pleased with the team’s continuing strong performance in the second quarter. Most importantly our safety performance was excellent, and rates among the best in Rio Tinto and our peers in the industry. Our focus on cost reduction continues to move the business towards a lower cost base and we continue to build on operational productivities, a priority as we have moved into zones with lower gold grades in the open pit. With these outcomes and the underground development progress the team is positioning the business well for the future.”
In Q2’16, concentrator throughput was broadly consistent with Q1’16; resulting in average throughput of approximately 105,000 tonnes per day for the quarter. As expected, copper production in Q2’16 declined 10.3% over Q1’16 reflecting lower grades from reduced mining in Phase 2 and lower recovery from Phase 6 ore, gold production in Q2’16 also declined approximately 52% over Q1’16 due to lower grades from reduced mining in Phase 2. Concentrate sold in Q2’16 increased 6.7% over Q1’16.
Turquoise Hill Resources continues to expect Oyu Tolgoi to produce 175,000 to 195,000 tonnes of copper in concentrates and 255,000 to 285,000 ounces of gold in concentrates for 2016.
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.