– Oyu Tolgoi is contributing to the Mongolian rural economic development through a 1.5 billion tugrug loan fund designed to support local small and medium size business entrepreneurs –
Ulaanbaatar, Mongolia – The National Development and Innovation Committee, the Ministry of Mineral Resources and Energy, and the Mining Exchange NGO jointly organized the 2nd Mining suppliers’ annual forum, held on March 15-16 at the Chinggis Khaan hotel.
During the 2nd day of the forum, representatives of the Ministry of Mineral Resources and Energy and the National Development and Innovation Committee, as well as large mining companies and international and Mongolian suppliers gathered to discuss sustainable mining supply.
B.Serjmaa, Manager of the National Procurement Development Department of Oyu Tolgoi: “around 1,000 Mongolian companies, businesses and individuals are supplying products and services to Oyu Tolgoi. In 2011, the company purchased a total of 1.7 trillion tugrugs worth of products and services from Mongolian suppliers”.
B.Serjmaa added that “Oyu Tolgoi’s procurement policy is transparent and all international and Mongolian suppliers can easily access it. We are pursuing a special policy to give priority to Mongolian and local suppliers in all our operations”.
Chairman of the National Development and Innovation Committee Ch.Khashchuluun: “in the past, about 200 businesses from the South Gobi became Oyu Tolgoi’s suppliers. They supplied a total of 3 billion tugrug worth in products and services to the company. This demonstrates that Oyu Tolgoi is fulfilling its commitment to supporting local small and medium size business entrepreneurs. Other Mongolian mining companies should learn from Oyu Tolgoi, which posts all bidding information on its website, and has set up a local procurement development team to work in South Gobi’s Dalanzadgad and Khanbogd soums.”
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.
For more information, connect with us on Facebook and Twitter.
Leave a Reply
You must be logged in to post a comment.