Mine’s senior leadership take oath to serve ‘the greater good’
Ulaanbaatar, Mongolia (ot.mn) – Senior leaders from Oyu Tolgoi, including CEO Cameron McRae, attended the Global Business Oath signing ceremony in Ulaanbaatar on Thursday evening to support the drive for greater responsibility and integrity in corporate management.
The event, part of Global Dignity Day, took place at the Natural History Museum. It saw some of Mongolia’s most powerful business leaders sign up to a charter that binds them to make human rights and environmental protection a central part of their decision-making.
The Global Business Oath is part of the Oath Project which is backed by groups including the World Economic Forum's Young Global Leaders and the UN Global Compact. The initiative was prompted by efforts to avoid a repeat of the financial crisis of 2008.
McRae said that he fully supported the aims of the programme. “I am delighted to sign the oath”, he said. “This aligns closely with Oyu Tolgoi’s values of respect for the environment and communities. I am proud to sign and I wish Global Dignity Day every success.”
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 MNT) 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.