– Oyu Tolgoi best for new jobs and 2nd for taxes paid –
Ulaanbaatar, Mongolia – Mongolia’s world class mining company, Oyu Tolgoi has been recognised for creating the most new jobs in 2012, and praised for many other contributions to Mongolia. The Top-150 Corporate Entities, 2012, co-organised by the Chamber of Commerce and Industry and the Government of Mongolia, named Oyu Tolgoi as sixth overall. The company was also ranked second for taxes paid and 11th for Corporate Social Responsibility. In compiling the rankings, the judges also recognised Oyu Tolgoi for its anti-corruption efforts.
Oyu Tolgoi is expected to begin commercial production in June, making its tax contribution last year all the more remarkable. So far, the mine has not yet created revenue or profit. Oyu Tolgoi has already paid over US$870 million in taxes, fees and pre-payments to the Government of Mongolia. The contribution to the Government during commercial production through taxes and royalties is expected to increase dramatically.
Oyu Tolgoi President and CEO, Cameron McRae said: “The entire work-force is delighted with this recognition. Oyu Tolgoi is proud to be a Mongolian company, creating jobs, contributing taxes and bringing world class standards to Mongolian mining.
“The fact that this recognition of our positive impact is in a year when we were still building the project is especially important. When we begin commercial production, the benefits that we bring to people will be even greater.
“Last year, Oyu Tolgoi created almost 1,400 jobs. That’s 1,400 individual stories about real families and livelihoods.”
About Oyu Tolgoi LLC (http://ot.mn/en)
Oyu Tolgoi LLC, Mongolia's largest copper and gold mining company, is a strategic partnership between the Government of Mongolia, Turquoise Hill Resources and Rio Tinto. Located in the Umnugobi, Oyu Tolgoi is scheduled to begin commercial production in the first half of 2013. As the biggest single investment in Mongolian history, Oyu Tolgoi already is a major driver of the country’s economy.
Oyu Tolgoi is managed by Rio Tinto, which is investing global expertise and cutting-edge technology to help develop Mongolia’s mining industry and ensure Oyu Tolgoi is one of the world’s most advanced mines. Oyu Tolgoi is developing a nationwide vocational training programme, regional infrastructure, and is committed to ensuring more than 90 per cent Mongolian national employment and a strong Mongolian supplier base. These programmes will help drive economic growth for generations to come.
Oyu Tolgoi’s core commitment is to a safe work place and setting a new standard in environmental care.
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