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Memorandum of Understanding between Oyu Tolgoi LLC and the Ministry of Education, Science and Culture

Ulaanbaatar, Mongolia - A Memorandum of Understanding (MOU) was signed by and between Oyu Tolgoi LLC (OT LLC) and the Ministry of Education, Culture and Science based on the Oyu Tolgoi Training Strategy and Five Year Training Plan submitted by the Mongolian mining company OT LLC on the 29th of June, 2010 with the purpose of preparing a viable workforce for the Oyu Tolgoi project as well as for other mining projects throughout Mongolia equalling up to US$58 million.

Yo.Otgonbayar, Minister of Education, Culture and Science, said, “This is a great investment by OT LLC to jointly promote the expansion and improvement of technical and professional training and education in Mongolia.” He continued to thank OT LLC for its efforts to introduce world-class mining sector training and education programmes in Mongolia.

“I see this as a start of a long-term partnership between the OT LCC and the Ministry of Education. Everything about the Oyu Tolgoi project talks about long-term and we have a resource in front of us that we are expecting to be mining for fifty to a hundred years. Bearing in mind that we might be mining here for a hundred years, we are now only a hundred days since the effective date of the Investment Agreement. We have already employed over 2,500 Mongolians at site. But this MOU is more about the future rather than the present,” said Keith Marshall, President and Chief Executive Officer of OT LLC.

In this Memorandum of Understanding, a comprehensive set of strategic plans submitted by OT LLC are to be implemented and overseen:

  • The commitment of US$30 million towards the implementation of the five year training plan by OT LLC
  • Up to US$10 million to be funded by OT LLC for the establishment of two mining focused professional training and vocational centres, one of which is to be located in Dalanzadgad in Umnugobiaimag, and the other to be located in Ulaanbaatar
  • Funding of US$10 million towards the student scholarship programme. (This includes providing grants and scholarships for 200 students studying at Mongolian universities, institutes and vocational training colleges, and 30 students studying overseas in mining related fields)
  • OT LLC will provide a total funding of US$8 million for the upgrading of four selected educational establishments, including equipment and curriculum in Erdenet, Ulaanbaatar, Darkhan and Choir.

The adoption of international mining education and training curricula is also stated in the MOU. A working group of 12 members with an equal number of members appointed from each side, will be established to evaluate the developmentand upgrade of additional mining-related educational, training and vocational facilities.

These plans are a crucial part of preparing the workforce for OT LLC and is a clear example of OT LLC making an effort to fulfil its roles as written in the Investment Agreement.

Oyu Tolgoi’s key priorities are the environment, the health and safety of our employees, a contribution to sustainable development and conducting business with integrity. Oyu Tolgoi works closely with local communities, respect laws and customs, and ensuring a fair share of benefits and opportunities.

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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