– Batsukh Galsan addresses Asia Mining Congress 2014 –
Singapore, Asia – Mr Batsukh Galsan, Chair of the Board of Directors of Oyu Tolgoi LLC, today showcases, Mongolia’s biggest mining project to one of the continent’s biggest gathering of miners and investors. Speaking at the annual Asia Mining Congress in Singapore, Mr Batsukh spoke of the challenges of building, running and developing a mega-mining project like Oyu Tolgoi.
Reflecting on the early days of Oyu Tolgoi’s development, Mr Batsukh said:
“When the early discoveries were made at Oyu Tolgoi – they created significant excitement in the investment world. Gradually, these discoveries have put Mongolia on the global mining map.
“Building a mine and infrastructure on the scale needed was an obvious challenge. Today construction of the open pit and concentrator is complete. Oyu Tolgoi is an operating business, with a workforce of 7,500 people.
“We are now mining, producing and selling copper concentrate. Oyu Tolgoi has all the keys for successful operation, based on the strong support from the Government and Rio Tinto’s global standard of management and expertise.”
“There is more to do, but we are beginning the change from a capital-intensive construction project to a safe, sustainable and profitable business, which delivers value for all our shareholders and stakeholders.”
Finally, the Chairman reflected on all that has been achieved at Oyu Tolgoi and the challenges that have been overcome:
“We must remember only four years ago, there was only a medium size camp, a lonely exploration shaft and those planning the construction. Now, it is an operating mine complex, with some of the best technology and people in the world.
“Yes, the challenges were great. You need infrastructure, you need to create a supply chain, you need to create a skilled workforce, you need to forge and strengthen a partnership between Government and investors.
“Oyu Tolgoi provided an opportunity for innovation and the creation of a long life, low cost project which offset the short term infrastructure challenges.”
The Asia Mining Congress brings together miners and investors from across the continent to learn lessons, and discuss the latest industry an investment trends.
About Oyu Tolgoi LLC (http://ot.mn/en)
Oyu Tolgoi LLC, Mongolia's largest copper and gold mining company, is a strategic partnership between the Government of Mongolia, Turquoise Hill Resources and Rio Tinto. Located in the Umnugobi, Oyu Tolgoi has commissioned Concentrator plant in December, 2012 and commenced shipments of copper concentrate in July of 2013. As the biggest single investment in Mongolian history, Oyu Tolgoi already is a major driver of the country’s economy.
Oyu Tolgoi is managed by Rio Tinto, which is investing global expertise and cutting-edge technology to help develop Mongolia’s mining industry and ensure Oyu Tolgoi is one of the world’s most advanced mines. Oyu Tolgoi is developing a nationwide vocational training programme, regional infrastructure, and is committed to ensuring more than 90 per cent Mongolian national employment and a strong Mongolian supplier base. These programmes will help drive economic growth for generations to come.
Oyu Tolgoi’s core commitment is to a safe work place and setting a new standard in environmental care.
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