OYU TOLGOI, Q1 2024 PERFORMANCE RESULTS
Highlights of 2024:
Underground mine production commencement marked its one-year anniversary on 13 March, 2024.
Underground mine Shaft 4 construction reached a significant milestone in Q1 with breakthrough.
The first ever “Water Awards” event to recognise businesses, individualds and researchers for their effort to conserve and preserve water was organised by Oyu Tolgoi in partnership with Water Agency, Mongolian Associations of Hydrogeologists, Mongolian University of Science and Technology, and Galba Uush Dolood Gobi River basin Administration on the World Water day, 22 March.
Organised the “Khanbogd Water Conference” to raise awareness and to provide factful information on underground water to local communities in partnership with relevant local government agencies and water experts on 23 April.
In accordance with the implementation of the amendment to the "Procedure on Determining Average Salary" ("Amendment to Procedure"), Oyu Tolgoi and the Trade Union Committee of Oyu Tolgoi LLC’s Mining Employees (TUC) established a Joint Working Group on 6 March. The Joint Working Group has held more than 20 meetings and reached an agreement on a package of proposals aimed at ensuring the health and well-being of all our employees and their families.
Oyu Tolgoi maintains close collaboration with civil society organizations to uphold information transparency. On 19 April, we had an insightful dialogue with constructive feedback with around 20 leaders and delegates from national civil society organizations at Oyu Tolgoi mine, focusing on the mine operations and our environmental initiatives. This meeting served as a continuation of the open dialogue initiated during the Mining Week 2023 which was held last October. Our regular meetings will continue in the future to delve into specific topics in greater detail.
Ulaanbaatar, Mongolia – Oyu Tolgoi released its latest performance scorecard highlighting key metrics for the first quarter of 2024 and provided an update on underground mine production.
Oyu Tolgoi continues the ramp-up of the underground mine safely ahead of plan with a total of 99 drawbells opened from Panel 0 as of 17 April 2024, including 13 drawbells during the first quarter. The operation is expected to ramp up to deliver an average mined copper production of ~500ktpa (100% basis) between 2028 and 2036.
Construction of the conveyor to surface works continued to plan and was 94% complete at the end of the quarter. Commissioning remains on track for the second half of 2024. Construction works for the concentrator conversion remain on schedule. Commissioning is expected to be progressively completed from the first quarter of 2024 through to the second quarter of 2025. Construction of Primary Crusher 2 commenced in December 2023 and scheduled to be completed by the end of 2025.
Operational Excellence
Prioritised safety above all else and achieved an All Injury Frequency Rate (AIFR) of 0.11 per 200,000 people/hours worked.
Maintained first quartile water-efficiency, using less than 0.55 cubic meters per tonne of concentrate (0.29 cubic meters for Q1 2024) compared to the 1.2 cubic meters global average per tonne average.
97.3% of Oyu Tolgoi’s workforce are Mongolian citizens. We are also proud to have 23.5 female workforce across Oyu Tolgoi LLC.
Since 2010, Oyu Tolgoi has paid US$4.5 billion or MNT10.9 trillion in taxes, fees and other payments, including VAT, to Mongolian suppliers. In this quarter alone, total in-country spend already reached MNT2 trillion or around USD582 billion.
Partnered with 693 suppliers, including 538 national businesses, accounting for 91% of the total operational procurement spend.
Q1 2024 Performance Scorecard can be viewed here.
go to
https://www.ot.mn/media/otnew/content/Scorecard_Q1_EN.pdf
Production update
Mined copper production increased 8% in the first quarter of 2024 as the ramp-up in underground production continued to plan. During the quarter, we delivered 1.3 million tonnes of ore extracted from the underground mine with an average copper content grade of 1.67% and 9.0 million tonnes from the open pit with an average grade of 0.39%.
Sinking of ventilation shafts 3 and 4 continued to progress well during the quarter and at the end of March reached depths of 1,076 metres and 1,150 metres below ground level, respectively. Final depths required for shafts 3 and 4 are 1,130 and 1,176 metres respectively. Shaft 4 breakthrough (sinking completion) was achieved in early April. Both shafts remain on track to be commissioned in the second half of 2024.
Oyu Tolgoi Production Data
see & read more on
https://www.ot.mn/press-release-q1-2024-performance-results/ |
