Bayarsaihan T. joins Oyu Tolgoi after 18 years of overseas assignment at the highest levels of international development
Ulaanbaatar, Mongolia (ot.mn) – A senior Mongolian with extensive experience from world’s leading development organisations including the Food and Agriculture Organization of the United Nations, Asian Development Bank and World Bank has been appointed as Vice President for Regional Development and Social Performance at Oyu Tolgoi.
Before joining Oyu Tolgoi, Mr T. Bayarsaihan worked at World Bank’s headquarters in Washington D.C. dealing with projects and programs in the South Asia Region. After a prolonged overseas assignment, he is coming back to Mongolia to help take charge of ensuring that the benefits of the Oyu Tolgoi mine are optimised for the Mongolian people.
“I am enormously privileged and gratified for having this opportunity to come back to Mongolia after 18 years of overseas assignments and contribute to the development of the country at this time of great opportunity and challenge. Oyu Tolgoi is an economic flagship project in Mongolia and I am fully aware that the project should play a key role in future prosperity and economic development of the country. In my new job, I will be working towards maximising the contributions of the mine to the optimal and sustainable development of South Gobi, and Mongolia as a whole.”
Mr Bayarsaihan was born and raised in Ulaanbaatar. He earned BE in economics from the School of Economics, Bratislava, Czechoslovakia in 1985, MSc in agriculture and rural development from the University of London, UK in 1994 and a PhD in agriculture and natural resource management from the University of New England, Australia in 1997.
He has total of 23 years of experience working both in Mongolia and abroad. In Mongolia he worked for eight years in various capacities including Economist, and Project Officer of UN management project, the Curriculum Director of Business Management Training Centre and the Director of International Relations and Cooperation Department at the Ministry of Food and Agriculture.
For the past 13 years, Mr Bayarsaihan has been working at the Asian Development Bank and World Bank mainly as senior economist and task manager for various policy programs and investment projects in developing countries. His career to date includes experience from more than 20 countries including China, India, Indonesia, Pakistan, Vietnam, Sri Lanka, Nepal, Ethiopia and the emerging economies of Eastern Europe and Central Asia. He has specialised in economic policy and institutional reforms, preparation of sector and regional development strategies, natural resource management, design and implementation of infrastructure and other investment projects.
“It is a wonderful benefit to have someone with the credentials of T. Bayarsaihan joining Oyu Tolgoi, and his presence is a demonstration of how seriously we take our regional development and social performance obligations,” said CEO Cameron McRae.
About Oyu Tolgoi LLC (www.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 Oyu Tolgoi. 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 one 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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