ULAN BATOR, Nov 9 (NNN-XINHUA) – The underground mine of Mongolia’s Oyu Tolgoi copper-gold mining project, has produced more than 127,000 tonnes of copper since its launch in March, local media reported today.
The underground mine is very important for the implementation of “Vision 2050” – the Mongolian government’s long-term development policy, Mongolian Prime Minister, Luvsannamsrai Oyun-Erdene, said.
Thanks to the underground mine, Mongolia’s goal of bringing per capita GDP to 10,000 U.S. dollars can be realised, according to the prime minister.
Located in the southern Mongolian province of Umnugovi, the Oyu Tolgoi mine is Mongolia’s biggest-ever investment project.
At its peak capacity, Oyu Tolgoi is expected to produce around 500,000 tonnes of copper per year on average, from 2028 to 2036, from the open pit and underground.
The Mongolian government has a 34-percent stake in Oyu Tolgoi, while Turquoise Hill Resources, which is controlled by the British-Australian mining giant Rio Tinto, owns the remaining 66 percent.– NNN-XINHUA
