– Mongolian managers work together to lead the world level project –
Ulaanbaatar, Mongolia – The construction phase of Oyu Tolgoi, Mongolia’s economic development advancer, has now reached 82 per cent towards completion. The Oyu Tolgoi mine is slated to commence production in 2013 when the supply of its precious commodities will be available to a global market. By 2017 the mine aims to be operating at full production capacity. Today, there are approximately 15,000 people working on the construction of Oyu Tolgoi, of which 9,250 are Mongolian nationals.
This number is set to grow, as 10 years from the start of production Oyu Tolgoi aims to have over 70 per cent of the Oyu Tolgoi engineers being Mongolian nationals. To achieve this goal Oyu Tolgoi is preparing and strengthening their engineering and technical staff from the present day. An example of this is the graduate programme which encourages newly graduated and qualified students to apply for a two year apprenticeship, overseas and at the Oyu Tolgoi site in the South Gobi, in order to become a highly skilled manager of the future Oyu Tolgoi.
Oyu Tolgoi continues to support Mongolian youth development and encourages them to take leading roles in this world-class company. Oyu Tolgoi proudly provides thousands of Mongolian youth with opportunities for professional experience, confidence, and secure employment in their own home country.
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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