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Economy / Mining / Mongolia News / April 22, 2015

In the 2nd quarter of 2015 Oyu Tolgoi production is expected to increase

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Today Oyu Tolgoi LLC introduced its production report for the 1st quarter of 2015.

In the 1st quarter of 2015, in comparison to the 4th quarter of last year, the production of ore concentrate decreased by 30 percent due to the delay of planned maintenance work and ore content being processed by OT’s concentrator.

The company reports that delays at the factory were resolved quickly and without any accidents.

During the Tsagaan Sar holiday, customs clearance activity was stopped postponed but the trading of concentrate in the 1st quarter was higher than production.

As of the 1st quarter of 2015 Oyu Tolgoi LLC has paid 66.4 million USD in taxes, and spent 78.3 million USD in procurement from domestic companies, 14.1 million USD of which was paid to suppliers in Umnugobi aimag.

As stressed by President and CEO of Oyu Tolfoi LLC Andrew Woodley in comparison to 2014, in 2015 production figures will be close to those of 2014.

In the 2nd quarter of 2015 production is expected to increase. As indicated in the OT production report, as of the end of this year, the factory is planning to produce 175,000 to 195,000 tons of copper, and 600,000 to 700,000 ounces of gold concentrate.

SOURCE: News.mn




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