Cameron McRae, President and Chief Executive Officer of Oyu Tolgoi gave a speech at the 3rd Mongolian Investment Summit in Hong Kong on 30 October 2012.
"It is a pleasure to be here today representing Oyu Tolgoi and Rio Tinto at the 3rd Mongolian Investment Summit.
This is an important moment for the Oyu Tolgoi project and for the future trajectory of Mongolia. In 2013 the Oyu Tolgoi project is poised to deliver its first commercial copper. History is being made in the Gobi desert. Today, I’ll talk about the promise of this moment, and what is ultimately needed to fulfil the promise of Oyu Tolgoi.
It has been quite a journey since the first discovery was made in 2001.
We began building the mine in 2010 in an open desert with no infrastructure. Two and a half years later, a world-class mine has been built that now stands ready to produce. These pictures, taken in July, show rocks from the open pit going through the primary crusher and onto stockpile. Oyu Tolgoi’s open pit is up and running. The concentrator is built and ready to be switched on. This will-one day be one of the top 5 copper mines in the world, supplying 24 per cent of the copper sourced in Asia. It is set to change the future of Mongolia.
Rio Tinto and Turquoise Hill have brought a scale of investment to Mongolia that was unthinkable before Oyu Tolgoi. That investment has brought immediate, tangible benefits. And I don’t just mean the more-than-800-million dollars in taxes, loans and other payments we’ve made to the Government."
Please click on the following links to view the complete version of Cameron McRae's speech and presentation.
Leave a Reply
You must be logged in to post a comment.