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Training programme and funding allows Altantsetseg to start own business
Ulaanbaatar, Mongolia (ot.mn) – It’s difficult to get fresh eggs in rural areas, but it has become a whole lot easier in Manlai Soum thanks to G.Altantsetseg, one of the beneficiaries of Oyu Tolgoi’s Gobi Prosperity programme.
Altantsetseg is a retired livestock expert who has used Oyu Tolgoi financing and training to start a thriving chicken farming business, after trying for 10 years without success. She and other entrepreneurs travelled to Ulaanbaatar last week to be trained in how to expand their companies.
“Oyu Tolgoi really supports us and always provides training for us. Thanks to the training programme I am becoming a brave and responsible businesswoman”, she said. “Before I only dreamed having my own chicken farm, and my retirement salary was not allowing to me to do it. By participating in Gobi Prosperity programme, I was given enough trust and support and that is making my dreams comes true”.
Oyu Tolgoi has been running the training program since last February. It is designed to support local businesses based in the Eastern Umnugobi soum, and is supported by both KHAN and Xac Banks. The program offers credit on very reasonable terms, as well as training.
Cameron McRae, CEO of Oyu Tolgoi said that he was proud that the Gobi Prosperity programme was changing lives for the better, and increasing the economic productivity of the eastern Umnogobi.
“This is a really successful program and I am so glad that we have made Altantsetseg’s dream a reality. This program is one of many we run that is affording people new life chances, and for every business that becomes successful, there will be other businesses that benefit from the increased economic activity”, he said.
“I wish Altantsetseg all the luck with her venture.”
About Oyu Tolgoi (www.ot.mn)
Oyu Tolgoi LLC is Mongolia’s largest copper and gold mining company and is a strategic partnership between the Government of Mongolia, Ivanhoe Mines and Rio Tinto. Rio Tinto is the major shareholder in Ivanhoe Mines and the manager of the Oyu Tolgoi project. In addition to dividends from its 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$85 million dollars (110 billion tugriks) in training.
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.
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.