Oyu Tolgoi is the best company for social responsibility

Mine recognised for its support for local business at ‘Golden Sands 2011’

Ulaanbaatar, Mongolia (ot.mn) – Oyu Tolgoi, the gold and copper mine under development in the South Gobi, was named the ‘Best mine for supporting local business’ at the 'Golden Sands 2011' Awards last week in Dalanzadgad.

South Gobi Business Council Executive Director, Mrs Tuuli J said: “I’m happy to be handing this award to Oyu Tolgoi. Oyu Tolgoi is the best company for social responsibility, and the best contributor to local business.”

The prestigious Golden Sands ceremony is organised by the Mongolian National Chamber of Commerce and Industry, Mongolian National Mining Association, South Gobi Business Council, the Mongolian Employment Federation and the Mongolian Federation of Business and Professional Women.

The award was won thanks to the efforts of the South Gobi Micro-Procurement Supplier Development Team, which grew from three to nine people through 2011. The team distributed 417,000,000 MNT in Micro-credit loans to 34 active South Gobi suppliers and businesses during the year, as well as purchasing 2,471,980,529 MNT worth of supplies.

Perhaps the team’s biggest achievement was the launch of the Dalanzadgad Supplier Development Centre in May 2011. Since the opening, over 6,000 people have visited the Centre.

These activities are in line with Oyu Tolgoi’s Mongolia First program. The programme is very successful – Mongolian contractors are managing five of the 12 major infrastructure programmes underway in South Gobi, and Oyu Tolgoi has over 500 active Mongolian suppliers on its books.

Cameron McRae, CEO of Oyu Tolgoi, said: “This is well-deserved recognition for the team. It is typical of them that they told me they would like to dedicate this win to everyone who supported and cooperated with us through 2011, particularly our community of local suppliers.”

About Oyu Tolgoi LLC (www.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 Oyu Tolgoi. 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 one 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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