– Oyu Tolgoi awards scholarships to 42 students to study at national and international universities and schools for the 2012-2013 academic year –
Ulaanbaatar, Mongolia – Oyu Tolgoi LLC has invested 168 billion MNT to sustain and develop Mongolia’s education sector. One of these investments, the student scholarship programme, aims to support Mongolian students enabling them to study at universities in our country and overseas. These scholarships are for students majoring in mining and relevant technical disciplines to earn bachelor’s and master’s degrees.
At the ceremony yesterday, the Oyu Tolgoi LLC – funded National Scholarship Programme for 2012-2013, awarded 42 scholarships to eligible students. From over 270 students who applied for domestic scholarship programme, 35 students majoring in mining and relevant disciplines were selected after a one-month selection process. Seven students were selected for the international scholarship programme.
“Mongolia needs good professionals, particularly in the rapidly developing mining sector. To keep up with the demand for skilled professionals, Oyu Tolgoi LLC implemented a scholarship programme three years ago. This year Oyu Tolgoi has invested over 650 million MNT in domestic and international scholarships.” said Ch.Ganbold, a member of the Board of Directors of Oyu Tolgoi LLC at the ceremony.
Oyu Tolgoi LLC will provide these students with full tuition fees for one year and also pay the rent for dormitory accommodation for students who come from the provinces. In addition, the students are able to participate in paid internships at Oyu Tolgoi and successful graduates can join the company’s new graduate development programme. Students of the international scholarship programme will be provided with full tuition fees, monthly living allowances, an international student health insurance policy, visa costs and transport expenses.
Scholarship recipient and student at the University of Science and Technology, L.Ochirbat shared: “This is the first time I have received a scholarship. I feel happy. For me, this is an opportunity and motivation to study harder. As the Oyu Tolgoi scholarship has many advantages, I tried my best to succeed in winning the scholarship.”
Over the next two years Oyu Tolgoi LLC has a goal to provide 200 scholarships to students attending national universities and 30 scholarships to students for foreign universities and schools.
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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