20 major winners at supplier ‘event of the year’
Ulaanbaatar, Mongolia (ot.mn) – The Third Annual “Gobi Gem” Oyu Tolgoi Best Supplier Award Ceremony was held yesterday at the SS Club in Ulaanbaatar. Oyu Tolgoi officials, Government members, and representatives of 47 suppliers nominated for the awards were present, alongside the Mongolian media, NGOs and rural residents.
Oyu Tolgoi President and CEO, Cameron McRae, acknowledged the work of the many suppliers in attendance at the event.
“It is not only products and services you supplied to Oyu Tolgoi, you went beyond that and you supported the development of a new future in Mongolia – you supported the training of a Mongolian workforce, the building of infrastructure and the economic development of the country in 2011. I am particularly pleased we are handing out the Supplier Excellence Award for Commitment to Social and Community Development, but in a way, you are all contributors to that goal”, noted McRae.
John Jones, Senior Vice President of Oyu Tolgoi in charge of procurement said, “Oyu Tolgoi is buying 10.4 billion MNT in products and services everyday, and about 1,000 Mongolian companies are directly engaged in supplying products and services to Oyu Tolgoi. The company had spent 1.3 billion USD for the development of the mine and local infrastructure projects, in close collaboration with Mongolian national and South Gobi suppliers in 2011.”
Bayarsaikhan Tumurdavaa, Oyu Tolgoi’s Vice President for Regional Development and Social Performance said: “Oyu Tolgoi supports the development of Mongolian companies and gives priority to local companies and is currently working with 1000 Mongolian suppliers who are capable of undertaking large, complicated and specialized projects. In addition to this, Oyu Tolgoi has spent 30 billion MNT for the cultural, economic and social development of Umnugobi aimag over the past three-years.”
“I am particularly pleased that Khanbogd Altan Nutag, an NGO that works closely with Oyu Tolgoi and that helps 84 herder households to generate income from the sale of curd, was one of the big winners on the night, winning the Supplier Excellence Award for Commitment to Social and Community Development”, he said.
About Oyu Tolgoi LLC (http://en.ot.mn/)
Oyu Tolgoi LLC is Mongolia's largest copper and gold mining company and is a strategic partnership between the Government of Mongolia (34 per cent stake), Ivanhoe Mines (66 per cent) 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 34 per cent 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$58 million dollars (78 billion MNT) in training and education and an additional US$27 million dollars (36 billion MNT) in the Workforce Employment Project designed to help address the general skills shortage in Mongolia
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.
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