With the ambition of becoming the world’s 4th largest copper mine by 2030, let’s take a closer look at Oyu Tolgoi’s performance in Q3.

📈 Steady Production Growth

Oyu Tolgoi operates with a steady increase in copper production since the underground mining operation begins 20 months ago. In the third quarter of the previous year, copper concentrate production reaches 50 thousand tons, reflecting a 19% increase from the previous year and a 76.1% rise compared to 5 years ago.

🤜 Challenges & Adjustments

Copper production increases over a year, but it decreases by 4.8% from the previous quarter. This is due to maintenance activities and adverse weather conditions that affect open-pit mining, resulting in a 20.8% reduction in processed ore.

• 🥊 Underground Mining Milestones: In underground mining, Oyu Tolgoi opens Panel 0 and activates 120 ore pits, with 6 of them starting production. The company processes 1.5 million tons of ore with an average copper grade of 2.05%. The open-pit mine processes 7.4 million tons of ore with a copper grade of 0.39%.
• Fiscal Contributions: Oyu Tolgoi contributes significantly to Mongolia’s economy. In the third quarter, the company pays ₮363 billion in taxes, fees, and other payments, bringing the total since 2010 to ₮11.7 trillion, showing an 18.2% increase from the previous year.

🟢 Commitment to Sustainable Development

The company commits to sustainable development with ₮17.7 billion allocated for such projects in the last quarter, totaling ₮178.5 billion since 2015. Around 14.1% of this goes toward local business development.

Beyond financial contributions, Oyu Tolgoi supports Umnugovi's economy by spending ₮4.7 billion on goods and services from the region since 2010, which equals the province's GDP in 2023.