Author: Munkhbadral
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Investment Agreement signed
An Investment Agreement (IA) is signed between the Government of Mongolia, Ivanhoe Mines and Rio Tinto, with the Government taking a 34 per cent interest in Oyu Tolgoi, and setting the stage for the next phase of development of the project.
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Shaft 1 completed
Shaft 1 for the Oyu Tolgoi underground mine is completed to a final depth of 1,385 metres. This marks the deepest underground shaft ever excavated in Mongolia and, at the time, one of the deepest in Asia.
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Ivanhoe Mines & Rio Tinto
Ivanhoe Mines and Rio Tinto agree to form a strategic partnership for the construction and operation of Oyu Tolgoi.
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Oyu Tolgoi announces Q3 2015 performance update
Oyu Tolgoi today announced an update on its performance for the third quarter of the fiscal, ending 30 September, 2015. Highlights: Oyu Tolgoi achieved a strong safety performance with an All Injury Frequency Rate of 0.31 per 200,000 hours worked for the nine months ended 30 September, 2015. Oyu Tolgoi recorded revenue of US$431.7 million…
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Hugo Dummett discovered
Drilling establishes that the Hugo Dummett Deposit contains one of the highest-grade copper discoveries in the world. It is also one of the world’s largest gold and copper porphyry systems.
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Ivanhoe Mines arrive
BHP enters a joint venture with Canadian miner Ivanhoe Mines to develop the Oyu Tolgoi project. In partnership with BHP, Ivanhoe Mines acquires 98 per cent of the exploration license for the Oyu Tolgoi area.
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Oyu Tolgoi Underground Development Supplier Forum a major success; 600 companies participating, strong Mongolian presence
Oyu Tolgoi’s Underground Development Supplier forum, a major event designed to bring together domestic and international suppliers, was successfully held on Wednesday. The event, which aimed to provide potential suppliers with information about the development of the underground mine, saw strong interest, with approximately 600 Mongolian and international businesses – translating to over 1,200 attendees…
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Exploration license received
BHP receives an exploration license for the area around Oyu Tolgoi. BHP starts its first field exploration in April 1997.
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Oyu Tolgoi named BCM ‘Company of the Year’
Oyu Tolgoi was named as Company of the Year for 2015 by the Business Council of Mongolia (BCM), an organisation dedicated to the promotion of trade and investment in Mongolia, representing all investors – domestic and foreign. Business Council of Mongolia Executive Director, Jim Dwyer, said: “The Business Council of Mongolia is delighted to acknowledge…
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Oyu Tolgoi in-country spend passes US$5.13 bn / MNT10.2 tr (2010-Q3 2015)
Strong safety performance continues Maintaining high water recycling rate of over 85 per cent US$192 mn / MNT383 bn in taxes paid for first three quarters of 2015 National procurement spend crosses US$209 mn / MNT417 bn for three quarters Oyu Tolgoi LLC today announced its in-country spend, from 2010 to Q3 2015, had passed…