Oyu tolgoi continues to grow as strong business

Odonchimeg 2016-02-01 12:02

Oyu tolgoi continues to grow as strong business.

Mongolia’s largest copper and gold company Oyu tolgoi continues to grow as strong business. Oyu Tolgoi Company released its latest Performance Scorecard, recapping the company’s strong performance across all key business measures in 2015. The latest edition of the Scorecard presents a snapshot of the impressive achievements of the business--and our workforce--in 2015. The company made real progress in terms of safety; made a significant contribution to Mongolia in terms of our in-country spend, taxes, fees and other payments; achieved record production levels and, delivered or exceeded on production guidance and, reduced costs across the business. Oyu Tolgoi achieved record production for the last quarter of 2015, improving over Q3 and Q2 2015, successive record quarters for the business. Oyu Tolgoi’s workforce composition stood at over 95 percent national for 2015; investment and participation in the local community grew, with USD 6.8 million invested in sustainable development projects in the South Gobi, USD 3.2 million in education and training, and USD 66 million in procurement from the South Gobi region. Two kindergartens in Dalanzadgad, the first projects funded by the Cooperation Agreement which commits USD 5 million annually to community development, are nearing completion. The signing of project financing for the underground mine in December 2015 was a significant vote of confidence in Oyu Tolgoi as a business, the workforce, and more broadly for Mongolia as an investment destination.