Company Acknowledges Business Development, Exceptional Service and Employment Growth
Ulaanbaatar, Mongolia (ot.mn) – Oyu Tolgoi LLC officially announced the “Gobi Gem” 2011 Supplier Excellence Awards, which will take place this Thursday (January 26th). Company leaders view the awards ceremony as an important occasion when Oyu Tolgoi will have the opportunity to publically acknowledge the critical role played by supply partners in the success and viability of operations.
As Oyu Tolgoi develops, the company has ensured that it is working with a diverse group of Mongolian businesses.
“Over the life of the project, we will invest over 7.7 trillion MNT and we are committed to partnering with Mongolian companies,” said John Jones, Oyu Tolgoi Senior Vice President for Procurement. “This commitment to the development of the Mongolian Supply community extends across the continuum of micro, small- to medium-sized businesses and large enterprises.”
Oyu Tolgoi always strives to engage Mongolian companies whenever possible, and the Mongolian companies that it engages with are taking on bigger, more complicated and ever more critical work assignments. Their work helps ensure the success of the Oyu Tolgoi project, and it also creates a stronger Mongolian national workforce via knowledge transfer in training and employment.
Evidence of this view and support by senior leaders can be seen in the current roster of projects being sponsored by the company.
“Twelve infrastructure projects are now underway in the South Gobi, and all are managed by National companies with Mongolian national employees, commented Cameron McRae, Oyu Tolgoi President and CEO. “Local content commitment makes good business sense and it is the right thing for us to do in Mongolia.”
Forty-seven local companies have been nominated for the variety of awards that will be given based on supplier excellence on a national, regional and sector level. A sample list of 20 award categories includes:
- Supplier Excellence Award – Khanbogd
- Supplier Excellence Award – Dalanzadgad
- Supplier Excellence Award for Commitment to Social and Community Development
- Supplier Excellence Award for Commitment to Environmental Management and Performance
- Supplier Excellence Award for Commitment to Innovation and Technology
- Supplier Excellence Award for New Employment Creation
- Supplier Excellence Award for Commitment to Health and Safety
- Grand Prix Award for Best Oyu Tolgoi Supplier
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), Ivanhoe Mines (66 per cent) and Rio Tinto. Rio Tinto is the major shareholder in Ivanhoe Mines 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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