Oyu Tolgoi LLC releases its 2020 Year in Review

Oyu Tolgoi published its Year in Review 2020 report today.

Here are some key facts of the Year in Review 2020 report:

• At
  the end of 2020, the All Injury Frequency Rate was 0.15 per 200,000
  people hours worked, which makes Oyu Tolgoi one of the safest performers
  across Rio Tinto Group.
• Between 2010 and 2020, Oyu Tolgoi paid
  MNT 5.9 trillion* (US$2.9 billion) in taxes, fees and other payments,
  including the VAT paid to Mongolian suppliers. In 2020, Oyu Tolgoi paid
  MNT 826 billion* (US$294 million) in the form of taxes, fees and other
  payments to the Government of Mongolia.
• Between 2010 and 2020,
  Oyu Tolgoi spent MNT 24.1 trillion* (US$11.6 billion) in-country in the
  form of salaries, payments to Mongolian suppliers, taxes and other
  payments to the Government of Mongolia.
• 84 local suppliers
  provided goods and services to Oyu Tolgoi in 2020. Between 2010 and
  2020, Oyu Tolgoi spent MNT 1.67* trillion (US$672 million) on
  procurement from Umnugovi province.
• Between 2010 and 2020, Oyu Tolgoi spent MNT 7.57 trillion* (US$3.54 billion) on national procurement.

Ambassador
Batsukh Galsan, PhD, Chairman of the Board of Directors of Oyu Tolgoi
LLC, said, “Oyu Tolgoi received the internationally-recognised Copper
Mark as a responsible and sustainable producer of copper – a testament
to the hard work and tenacity of our people and the executive team. I
take great pride in the young generation of national engineers and
technical experts diligently learning from skilled and experienced
expatriate professionals. Our MNT 24.1 trillion* (US$11.6 billion) total
in-country spend to date also demonstrates the project’s contribution
to the economic and social development of the country.”

Armando
Torres, Chief Executive Officer of Oyu Tolgoi LLC, highlighted “Despite
many challenges, we have worked together to fulfill our commitments
safely and effectively in 2020. We are particularly proud of the
remarkable journey we have made in improving safety. Oyu Tolgoi is an
industry leading performer in safety, ending the year with an All Injury
Frequency Rate of 0.15. As part of our continuous efforts to improve
our environmental performance, we were pleased to maintain excellent
water-conservation practices in 2020, achieving an average
water-recycling rate of 87.7 percent, compared to a target of 80
percent. We understand how valuable water is for the Gobi region and we
will continue to drive improvement in our water recycling process and
support the local community on water conservation plans.”

Jacques
van Tonder, Chief Development Officer of Oyu Tolgoi LLC, noted “For the
Underground Project, the new mine design was concluded, providing a
clear pathway towards future development and ultimately, sustainable
production. We also successfully transitioned the underground mining and
functional teams from the Underground Project into existing Operations.
This transition is an important validation in the confidence we have as
a leadership group that Oyu Tolgoi is ready to become an underground
producer.”

“We would like to express our sincerest gratitude to
officials at all levels of the Government of Mongolia, including state,
provincial and soum emergency commissions for providing us with the
support and the opportunity to continue Oyu Tolgoi operations and
underground development in these challenging times.”