The ownership structure of Oyu Tolgoi is:
- Erdenes Oyu Tolgoi LLC, representing the Government of Mongolia (34 per cent)
- Rio Tinto (66 per cent).
Erdenes Oyu Tolgoi LLC is the Mongolian state-owned company that has been entrusted to own the Government of Mongolia’s 34 per cent interest in Oyu Tolgoi LLC. As a shareholder, Erdenes Oyu Tolgoi LLC has the right to appoint three members to the Board of Directors of Oyu Tolgoi LLC. Together with the members of the Board appointed by Rio Tinto, their responsibility is to guide and oversee the management team to maximise the value of the project and Oyu Tolgoi LLC.
Rio Tinto is a leading international mining group, combining Rio Tinto plc, a London listed public company headquartered in the UK, and Rio Tinto Limited, which is listed on the Australian Securities Exchange, with executive offices in Melbourne. The two companies are joined in a dual listed companies (DLC) structure as a single economic entity, called Rio Tinto Group. In December 2010, Rio Tinto became manager of Oyu Tolgoi.
Rio Tinto’s business is finding, mining, and processing mineral resources. Its interests are diverse both in geography and products. Major products are aluminum, 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.
Rio Tinto takes a long term and responsible approach to the Group’s business to deliver superior returns to its shareholders. This means concentrating on the development of first class ore bodies into large, long life and efficient operations, capable of sustaining competitive advantage through business cycles.