Ulaanbaatar, Mongolia – The Oyu Tolgoi LLC Board of Directors unanimously approved the company programme, plan and budget for 2014. The decision was taken at the quarterly Board meeting held in Ulaanbaatar on 11-12 December.
The Board’s decision will provide Oyu Tolgoi a stable operational foundation for the next year. This is the first annual budget since the business completed its transition from construction to production.
Batsukh Galsan, Chairman of the Board of Directors of Oyu Tolgoi LLC, said, “This is an important step in our preparations for our first full year as an operating business. Together with the Oyu Tolgoi workforce, the Board is looking forward to a very important year. Our focus will be on meeting our responsibilities to safely deliver a sustainable and profitable business for the benefit of all stakeholders.”
Craig Kinnell, President and CEO of Oyu Tolgoi, said, “It’s great to have unanimous Board support for the project’s coming year. This is a sign of confidence in the entire 8,000-strong Oyu Tolgoi team. After safely ramping up production this year, we’re now looking forward to our first full year of exporting business.”
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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