On January 15, Turquoise Hill Resources released a report on fourth quarter 2017 production at Oyu Tolgoi.
Chief Executive Officer of Turquoise Hill Jeff Tygesen 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." In the fourth quarter, material mined increased by 5.3 percent over the previous quarter, and ore treated increased by 2.1 percent compared to Q3’17.
Copper production increased by 22.8 percent over Q3’17 as well. According to a company press release, Oyu Tolgoi plans to produce 125,000 to 155,000 tons of copper and 240,000 to 280,000 ounces of gold concentrate in 2018.
The 2018 budget includes 150 million USD for OT's open pit mine and 1.1 to 1.2 billion USD for the underground mine. The company announced that Oyu Tolgoi LLC has received and is evaluating a tax statement for 155 million USD owed to the Mongolian Tax Authority.
Turquoise Hill said that Oyu Tolgoi LLC has paid all taxes and charges required under its investment agreement and Mongolian law, and that an official response will be issued.
On January 15, Turquoise Hill Resources released a report on fourth quarter 2017 production at Oyu Tolgoi.
Chief Executive Officer of Turquoise Hill Jeff Tygesen 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." In the fourth quarter, material mined increased by 5.3 percent over the previous quarter, and ore treated increased by 2.1 percent compared to Q3’17.
Copper production increased by 22.8 percent over Q3’17 as well. According to a company press release, Oyu Tolgoi plans to produce 125,000 to 155,000 tons of copper and 240,000 to 280,000 ounces of gold concentrate in 2018.
The 2018 budget includes 150 million USD for OT's open pit mine and 1.1 to 1.2 billion USD for the underground mine. The company announced that Oyu Tolgoi LLC has received and is evaluating a tax statement for 155 million USD owed to the Mongolian Tax Authority.
Turquoise Hill said that Oyu Tolgoi LLC has paid all taxes and charges required under its investment agreement and Mongolian law, and that an official response will be issued.