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Business / Economy / Mining / Mongolia News / July 31, 2015

Oyu Tolgoi LLC – provides investment data

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Since 2010, Oyu Tolgoi LLC has spent a considerable amount on national procurement. The company reports that the total is MNT 4.97 billion, most of which was spent on domestic suppliers. The report notes that 76% (MNT 3.77 billion) was spent on Mongolian supplier companies, of this sum; MNT 89 million was invested in training and social development. Also, Oyu Tolgoi LLC has paid USD 944 million in taxes and fees, while the amount paid in salaries of permanent and temporary employees totals MNT 250 million. According to the Government, OT paid MNT 1.13 trillion taxes from the start of exploratory work (2000) to last year.

It can be noted that OT has invested MNT 7.1 billion to cover first stage construction and MNT 500 million to the second stage (underground) construction phase. In the company report, no mention is made of investments which took place during the temporary cessation of construction.

SOURCE: News.mn




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