Speech: Cameron McRae, Speech to Mongolia Investment Summit 2013

Defining the Mongolian Mining Sector: The effect of Oyu Tolgoi and its production
Cameron McRae, Speech to Mongolia Investment Summit 2013

I am delighted to be here today – to speak on behalf of Oyu Tolgoi and Rio Tinto. For those of you who have not yet visited the wonderful country that is Mongolia – you will find a very warm welcome – and a country and people who are motivated and ready to build on an extraordinary heritage.

2013 is a year of incredible significance for Oyu Tolgoi – in terms of what has been achieved already and what is to come. At the start of the year, we produced our very first copper concentrate, and are in line to begin commercial production by the end of June.

In partnership with the Government of Mongolia, our workforce has created something remarkable in the Gobi Desert. From an open wilderness, with no infrastructure, in just 30 months we have built a state-of-the-art mining complex.

The Oyu Tolgoi concentrator is up and running. It is the biggest machine in Mongolia. The overland conveyer – which carries the ore from the open pit to the Concentrator – could run the length of Kensington High Street and almost back again.

Visitors find the physical scale of Oyu Tolgoi impressive – almost intimidating. But even this pales into insignificance compared with the positive human and economic impact the business will bring.

As the biggest investment in Mongolian history, Oyu Tolgoi will eventually be responsible for 30 per cent of Mongolia’s GDP. But even before we have reached commercial production, Mongolia is benefitting from Oyu Tolgoi.

Please click on the following links to view the complete version of Cameron McRae's speech and presentation.