– Discover Mongolia Forum is being held for the 10th time –
Ulaanbaatar, Mongolia – Mining Investment Forum ‘Discover Mongolia-2012’ is being held in Ulaanbaatar, 30-31 August. Promoting the Mongolian mining sector to the world, this will be the 10th year of the forum and the 8th year it has been sponsored by Mongolian world class mining company Oyu Tolgoi.
The theme of this year’s ‘Discover Mongolia-2012’ forum is ‘From Discovering to Developing’. A timely topic as one of Mongolia biggest mining projects, Oyu Tolgoi, approaches its long anticipated first ore production.
The two day event will provide a forum for mining investors to exchange information and discuss issues affecting the minerals market in Mongolia and in neighbouring countries. Specialists from Russia, Japan, China and Korea will present on topics including ‘North-East Asian Demand and Supply of Energy’ and will provide recommendations for moving forward. The specialists will discuss opportunities and obstacles for Mongolia in supplying minerals and raw materials to the markets of North-East Asia. Oyu Tolgoi is the premier sponsor of ‘Discover Mongolia-2012.
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), Turquoise Hill Resources (66 per cent) and Rio Tinto. Rio Tinto is the major shareholder in Turquoise Hill Resources 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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