Oyuu Tolgoi
Number 1 Shaft at Oyu Tolgoi
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| Location | |
|---|---|
| Location | Khanbogd |
| Aimag | Ömnögovi |
| Country | Mongolia |
| Coordinates | 43°00′30″N 106°50′35″E / 43.00833°N 106.84306°ECoordinates: 43°00′30″N 106°50′35″E / 43.00833°N 106.84306°E |
| Production | |
| Products | Gold, Copper |
| Owner | |
| Company | Oyu Tolgoi LLC |
| Website | www.ot.mn |
The Oyu Tolgoi mine (Mongolian: Оюу Толгой, also Oyu Tolgoi, Turquoise Hill) is a combined open pit and underground mining project in Khanbogd sum within the south Gobi Desert, approximately 235 kilometres (146 mi) east of the Ömnögovi Province capital Dalanzadgad. The site was discovered in 2001 and is being developed as a joint venture between Turquoise Hill Resources (a majority owned subsidiary of Rio Tinto) with 66% ownership and the Government of Mongolia with 34%. The mine began construction as of 2010 and shipped its first batch of copper, all 5,800 tons of it, on 9 July 2013.
The Oyu Tolgoi mining project is the largest financial undertaking in Mongolia's history and is expected upon completion to produce 450,000 tonnes (500,000 short tons) of copper annually. Financing for the project has come in part from the Rio Tinto Group and an investment agreement between Ivanhoe Mines and the government of Mongolia.
Canadian-based Ivanhoe Mines discovered the gold-copper ore deposit in 2001 in the Gobi Desert of Mongolia. It is in an area known as Oyu Tolgoi (Mongolian for Turquoise Hill), where in the time of Genghis Khan outcropping rocks were smelted for copper. The place was suspected to have mineralization by Mongolian geologists since 1950s. By 2003 there were 18 exploration drill rigs on the property employing approximately 200 people, and Oyu Tolgoi was the "biggest mining exploration project in the world." In January 2013 Oyu Tolgoi started producing concentrate from the mine.
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