1 Day to Go until the 2011 Oyu Tolgoi Best Supplier Awards
3 suppliers from Khanbogd, Dalanzadgad and other soums of South Gobi will be recognized as best local suppliers
Ulaanbaatar, Mongolia (ot.mn) – Oyu Tolgoi will be hosting the 'Gobi Treasure', 2011 3rd Annual Best Supplier Recognition Awards ceremony on Thursday, January 26, 2012. A total of 20 best suppliers will be recognised including 3 best suppliers representing Khanbogd, Dalanzadgad and other soums of the South Gobi.
“It is with great pleasure that we announce Oyu Tolgoi LLC will be hosting its 3rd annual Supplier Recognition Award ceremony today. The event is being held to recognize the excellent performance delivered by our supplier partners. Their efforts are contributing to the construction of a world-class mining operation,” said Bayarsaikhan Tumurdavaa, Vice President for Regional Development and Social Performance at Oyu Tolgoi.
“The main goal of our company is to support and contribute to local development in the South Gobi. The role of local suppliers and contractor companies is very crucial in multiplying the benefits of the Oyu Tolgoi project, improving local water and power supplies, protecting local cultural heritage, and protecting the health of local residents in Dalanzadgad, Khanbogd, Manlai, and Bayan-Ovoo soums of South Gobi impacted by the mine,” he added.
To help small businesses, Oyu Tolgoi launched a 1.5 billion MNT micro-finance initiative to support local businesses and small- and medium-enterprises in cooperation with Khan and XAC Banks. Currently, 85 businesses have taken about 850 million MNT in loans to start new companies and expand their existing businesses through this initiative.
In addition, a business development center designed to strengthen the capacity of local suppliers was established in Dalanzadgad. Since its inception, the center has provided services to approximately 6,000 business entrepreneurs and local residents.
A total of 200 suppliers from nine soums across the South Gobi provided 3.2 billion MNT-worth of benefits to Oyu Tolgoi in 2011, including clothing, textiles, water, food, handicrafts and construction services.
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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