Rio Tinto: Oyu Tolgoi mine begins production

(CercleFinance.com) - A ceremony today brought together Oyu Tolgoi employees and management, Mongolian government officials and local suppliers to mark the start of underground production at the Oyu Tolgoi copper mine in the Gobi Desert.


Oyu Tolgoi is jointly owned by Erdenes Oyu Tolgoi on behalf of the Mongolian government (34%) and Rio Tinto (66%).

Oyu Tolgoi is expected to become the fourth largest copper mine in the world by 2030 and to operate in the top quartile of the copper equivalent cost curve. It is expected to produce around 500,000 tonnes of copper per year between 2028 and 2036.

The underground mine represents an investment of over $7 billion.


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