Location: The Oyu Tolgoi Project is located in the Khanbogd soum (region) of Umnugovi aimag (province), in the South Gobi region of Mongolia. The site is approximately 645 km south of the capital city, Ulaanbaatar, and 80 km north of the border with China. Administratively, it belongs to Khanbogd soum of Umnugovi aimag. The deposit is located 45 km southwest of Khanbogd soum.
Ownership: Oyu Tolgoi (formerly Ivanhoe Mines Mongolia Inc-IMMI) has been operating in Mongolia since 1996.In October 2009, Ivanhoe Mines Ltd. (Ivanhoe) (subsequently renamed Turquoise Hill Resources Ltd) (TRQ), OT LLC and Rio Tinto International Holdings Limited signed an Investment Agreement (IA) with the GoM.
Oyu Tolgoi LLC is a Mongolian company, jointly owned by Erdenes Oyu Tolgoi LLC on behalf of the Government of Mongolia (34 per cent) and Canadian-based Turquoise Hill Resources (66 per cent). Turquoise Hill Resources is listed on the Toronto and New York Stock exchanges. Rio Tinto has a 50.8% interest in Turquoise Hill. Rio Tinto also manages Oyu Tolgoi on behalf of the partnership.
Project period: In the negotiations to conclude the IA, the parties (Turquoise Hill formerly Ivanhoe Mines, and Mongolian Government) agreed that the IA should conform with the current 2006 Minerals Law terms: the term of the mining licences covered by the IA should be 30 years with two 20-year extensions.
Geology of Oyu Tolgoi copper-gold deposits: Oyu Tolgoi copper-gold deposits include Oyut (including the Southwest Oyu, South Oyu, Wedge, Central Oyu, Bridge, Western, and Far South zones), Hugo Dummett (including the Hugo North Extension and Hugo South zones) and Heruga.
Updated resource and reserves of the Oyu Tolgoi copper-gold deposits were registered in the mineral resources registry of Mongolia by the order A / 10 dated January 14, 2015 of the Director of the Mineral Resources Authority.
The Oyu Tolgoi deposits explored in accordance with the appropriate methodology and re-estimated its reserves as of 2014, total resource as Proven, Probable, and Inferred (A+B+C) are 6’435’249 Kt ore, 44’428 Kt Copper (average copper grade 0.69%, Equivalent copper grade is 0.88%), 1’903 t gold (average gold grade is 0.30 g/t), 11’896 t silver (average silver grade is 1.85 g/t), 205 kt molybdenum (average molybdenum grade is 120 g/t), Preliminary evaluated resources (P1) are 309’178 Kt ore, 1’399 Kt copper (average copper grade is 0.45%, equivalent copper grade is 0.55%), 51t gold (average gold grade is 0.17 g/t), and 277 t silver (average silver grade is 0.9 g/t). This re-estimated resource and reserve report is submitted by Mineral council in 2015. The feasibility study was amended in accordance with the changes in this reserve.