Ulaanbaatar, Mongolia – Following a Board meeting today, the Communications department of Oyu Tolgoi LLC announced that the work plan and the budget for 2011 has been approved by its Board of Directors. US$ 2.6 billion is budgeted to be spent on the project in 2011.
The first ore from the concentrator is now scheduled for August 2012 and first sales revenues are expected in March 2013.
Chairman of the Oyu Tolgoi LLC Board, Batsukh Galsan said, “The Board meeting today approved the budget for 2011, ensuring that we will be able to deliver the project ahead of the original schedule.”
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