Key Achievements:
Oyu Tolgoi has been recognized as Mongolia’s leading company in the "TOP 100 Enterprises" for the second consecutive year, reflecting its significant contributions to the country’s socio-economic development.
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- The "Top 100" list is determined based on key metrics, including revenue, taxes paid, social insurance contributions, profit, and asset capital. In 2024, Oyu Tolgoi spent USD 2.1 billion in Mongolia, including partnerships with national companies, contributions to the state budget, and employee salaries. Additionally, 30 of Oyu Tolgoi’s suppliers were included in the "TOP 100 Enterprises" list.
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- The North Ventilation Shaft reached a depth of 1,175 meters, while the South Ventilation Shaft was excavated to 1,131 meters. These shafts, with diameters of 10 and 11 meters respectively, play a vital role in regulating air intake and exhaust, ensuring safe and efficient operations. They are essential for achieving full production capacity and are among the largest ventilation shafts globally.
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- On 21 November 2024, Oyu Tolgoi LLC and the Trade Union Committees jointly signed a Collective Agreement aimed at improving employees' working conditions. The agreement will remain valid for a period of three years.
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- Rehabilitated 215.5 hectares of land in the Khar Yamaat Valley of Shariin Gol soum and the Khurgad, Tsekher, and Baga Noyon valleys of Khongor soum, Darkhan-Uul province. These areas were previously damaged due to irresponsible mining practices.
- Planted one million trees on 400 hectares of degraded land affected by wildfire at Bait Mountain, Altanbulag soum, Selenge province.
- Introduced drone tree-planting technology in Mongolia, planting 27,000 seed capsules in Yalbag Valley, Selenge province, in May 2023. Successful germination was observed during follow-ups in August 2023 and July 2024.
- Co-organized the "Forestation in the Khangai Region" study tour with the Forestry Department to enhance reforestation capabilities. Over 90 specialists and engineers from 46 forestry units participated, visiting key reforestation sites and learning advanced forest restoration practices.
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- Re-launched the Industrial Research Programme to strengthen industry-academia partnerships. This initiative allows university faculty, researchers, and students to address real-world challenges in mining, fostering collaboration and innovation.
- Expanded the Youth Development Programme to Dornogovi aimag, selecting 52 12th-grade students from Sainshand soum for workshops focused on soft skills development.
- Continued the "Gerelt" project to advance adolescent health, establishing psychologists and counseling rooms in 17 schools. For the 2024-2025 academic year, the project expanded to four schools in Bayanzurkh district, with plans to establish a new jiu-jitsu club.
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- Completed the development of Galba Park in Khanbogd soum, covering 5 hectares, featuring a children’s playground, a fountain, green spaces, parking, sanitation facilities, and lighting.
- Finalized the construction of 7.96 km of paved roads within Khanbogd soum center.
- Continued the Oyu Tolgoi Catalyst Fund’s projects in infrastructure development, business development, and human development. Concessional loans were introduced in collaboration with XacBank to support small and medium enterprises.
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- Rio Tinto launched a partnership with China’s State Power Investment Corporation (SPIC) to trial battery-swap electric haul truck technology at Oyu Tolgoi. This two-year project includes eight 91-tonne haul trucks, 13 batteries (each 800 kWh), and an automatic battery-swapping station.
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- Maintained an All-Injury Frequency Rate of 0.17, well below the target of 0.23 per 200,000 person-hours.
- Used less than 0.55 cubic meters of water per tonne of ore, significantly below the global average of 1.2 cubic meters. In Q4 2024, water usage was 0.34 cubic meters per tonne.
- Achieved a workforce that is 97.5% Mongolian, with 23.3% of employees being women.
- Paid USD 128 million in taxes, fees, and other payments in Q4 2024. Since 2010, Oyu Tolgoi has paid USD 4.8 billion in total contributions, including VAT paid to Mongolian suppliers.
- Worked with 1,044 suppliers in 2024, 752 of which were local, spending 90% of operational procurement on national suppliers.
- Q4 2024 Performance Scorecard can be viewed here.
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- Copper production increased by 63% in Q4 2024 compared to the same period in 2023, driven by ramp-up activities and higher ore grades from the underground mine.
- Completed construction of a 6.9 km conveyor system to transport ore from a depth of 1,300 meters, boosting production by 33% compared to the previous quarter.
- Opened 124 drawbells from Panel 0 of the underground mine, delivering 2.1 million tonnes of milled ore at an average copper grade of 1.96%