Jeff Tygesen, Chief Executive Officer of Turquoise Hill, said, “Oyu Tolgoi had a strong fourth quarter setting quarterly and annual records for open pit material mined as well as concentrator throughput. They also met annual production guidance, which is an excellent achievement given the grade challenges of 2017. We are extremely proud of Oyu Tolgoi’s numerous accomplishments for the year.”
Material mined in Q4’17 increased 5.3% over Q3’17 and ore treated increased 2.1% over Q3’17. Higher mill availability and processing of softer Phase 6 ore in Q4’17 resulted in a 20.8% increase in concentrate production over Q3’17. Copper production in Q4’17 increased 22.8% compared to Q3’17 due to higher grades and improved mill availability. Gold production in Q4’17 increased 12.9% over Q3’17 due to increased grades and higher concentrate production.
Oyu Tolgoi is expected to produce 125,000 to 155,000 tonnes of copper and 240,000 to 280,000 ounces of gold in concentrates for 2018.
Underground development progress During Q4’17, underground development continued to progress with Shaft 2 reaching final depth of 1,284 metres in December. Completed sinking of Shaft 2 is expected imminently and fit out is expected throughout 2018. Sinking of Shaft 5 also progressed during Q4’17 and is expected to be complete in Q1’18. Also in December, the fifth development crew became fully operational.
Jeff Tygesen, Chief Executive Officer of Turquoise Hill, said, “Oyu Tolgoi had a strong fourth quarter setting quarterly and annual records for open pit material mined as well as concentrator throughput. They also met annual production guidance, which is an excellent achievement given the grade challenges of 2017. We are extremely proud of Oyu Tolgoi’s numerous accomplishments for the year.”
Material mined in Q4’17 increased 5.3% over Q3’17 and ore treated increased 2.1% over Q3’17. Higher mill availability and processing of softer Phase 6 ore in Q4’17 resulted in a 20.8% increase in concentrate production over Q3’17. Copper production in Q4’17 increased 22.8% compared to Q3’17 due to higher grades and improved mill availability. Gold production in Q4’17 increased 12.9% over Q3’17 due to increased grades and higher concentrate production.
Oyu Tolgoi is expected to produce 125,000 to 155,000 tonnes of copper and 240,000 to 280,000 ounces of gold in concentrates for 2018.
Underground development progress During Q4’17, underground development continued to progress with Shaft 2 reaching final depth of 1,284 metres in December. Completed sinking of Shaft 2 is expected imminently and fit out is expected throughout 2018. Sinking of Shaft 5 also progressed during Q4’17 and is expected to be complete in Q1’18. Also in December, the fifth development crew became fully operational.