Oyu tolgoi reported accomplishments of 2015
Oyu tolgoi reported accomplishments of 2015.
Mongolia’s largest copper-gold company Oyu tolgoi reported accomplishments of 2015. Oyu Tolgoi announced an update on its performance for the fourth quarter and full year 2015. The Company achieved an excellent safety performance for 2015 with high All Injury Frequency Rate. Oyu Tolgoi recorded revenue of US$1.6 billion in 2015 on record concentrate sales of 820 thousand tones reflecting higher concentrate sales volumes partially offset by lower copper and gold prices. Revenue in 2015 decreased 5.8 per cent over 2014. Underground pre-start activities are underway in parallel with an update to the feasibility study capital estimate, which is expected to be complete in the end of Q1’16. Turquoise Hill continues to expect approval of the updated 2016 feasibility study and notice to proceed decisions by the various boards for underground construction in Q2’16. In 2015, copper production exceeded Turquoise Hill Resources guidance and annual gold production met guidance. Safety continued to be a major focus throughout Oyu Tolgoi’s operations and the mine’s management is committed to reducing risk and injury.
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