Rio Tinto signs historic agreement with National University of Mongolia

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New cooperation follows funding of Nobel Prize-winning speakers

Ulaanbaatar, Mongolia (ot.mn) – Rio Tinto, the global mining company that manages the massive Oyu Tolgoi gold and copper mine in the South Gobi, signed a major new agreement with the National University of Mongolia today.

Rio Tinto previously sponsored the university’s first series of addresses from Nobel Prize winners, and worked with the National University of Mongolia’s School of Economic Studies on a landmark Economic Impact Assessment for Oyu Tolgoi.

Oyu Tolgoi President and CEO Cameron McRae represented Rio Tinto at the signing. In addition to his lead role at Oyu Tolgoi, McRae serves as Rio Tinto’s Country Director for Mongolia. This Memorandum of Understanding represents an opportunity to expand the existing relationship between Rio Tinto and the National University of Mongolia.

“Through this MOU, we will help the University build up its teaching and research capacity through a speakers’ series and support education and training of Mongolian's through scholarships, internships and the latest educational resource materials:” stated McRae. “In turn, the University will support public education initiatives to increase public awareness of responsible mining and help train our employees by delivering short-term courses and other activities.”

In addition to the support and cooperation provided to the National University of Mongolia through Rio Tinto, Oyu Tolgoi has several projects in place which are expanding opportunities for Mongolians in the areas of higher education and vocational training.

Those projects include:

• An investment of approximately 110 billion MNT that is being invested in training and education over the next five years, creating the largest vocational training programme ever established in Mongolia;
• Two major universities in Nalaikh and Dalanzadgad; and
• Five centres which are currently being upgraded across the country.

“Relationships with top universities are very important to Rio Tinto because we are committed to supporting programmes that improve the educational outcomes of people in the communities where we operate:” noted McRae. “This is evident from our regular investments in education and training development.”

About Rio Tinto

Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.

Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and Africa.