The very last week of 2012 saw Oyu Tolgoi LLC take a step towards the future. With MPs, cabinet members, and ambassadors watching, Mining Minister D. Gankhuyag pressed the activation button on the concentrator to formally mark the commissioning of the largest and most technologically advanced machine ever built in Mongolia. Speaking on the occasion, he said, “I am pleased to be participating in the ceremony to commission the concentrator at Oyu Tolgoi’s world-class mine. On behalf of the Mongolian government, I congratulate all who contributed to the project, which is being constructed on schedule. Oyu Tolgoi’s progress as the guarantee of our mineral wealth left for us by our ancestors is the result of Rio Tinto’s effective project management and financial capacity.”
Completed in record time, the commissioning of the concentrator represents a significant advance for Mongolia. Oyu Tolgoi brought the specialized expertise of over 18,000 people from 44 countries to the complex project. In his speech, Cameron McRae, Oyu Tolgoi President and Chief Executive Officer, noted how the mine’sdevelopment progress has been remarkable, and said, “We are doing more than just constructing the most technologically advanced mine in Mongolia’s history. We are also helping usher in a new wave of economic development.”
Oyu Tolgoi will begin producing copper concentrate in the early first quarter of 2013. Commercial production is expected within the next few months. The ore is coming from the open pit mine, which has begun production. However, 80% of the value of Oyu Tolgoi is in the extensive underground mine, which is still in the early stages of development and expected to begin producing in 2016.