Turquoise Hill Resources have reported that Oyu Tolgoi underground phase financing agreement to be signed by the end of this year. The report also noted that the financing negotiations of the investors are having significant advancements and moreover the Feasibility Study for OT is being renewed.
According to the report the Q2 of 2015 copper concentrate production has increased by 64.6 percent reaching 215.5 thousand tons, which is the historic high since the commencement of the concentrator. The copper content has increased by 64.5 percent, while the gold content increased by 178 percent in the copper concentrate.
Increase of throughput by 20 percent and ore content has resulted in the intensification of the production. According to the Turquoise Hill Resources report the ore content is expected to be high in the second half the year as well. Copper Concentrator at OT was commenced in February of 2013 and had its first export in July of 2013.
In February 2015 OT had reached its milestone of production of the 1 millionth concentrate. The company expectation is to produce copper concentrate with 185 thousand tons of copper concentrattion and 650 thousand ounces of gold concentration for this year.
As of the investments, investors agreed on continuing of the underground development of OT as it contains about 80 percent of the total deposits.
USD 4.2 billion out of total USD 4.9 billion needed for the financing of the underground phase is to be funded through the committment of the international banking and financing institutions.
Turquoise Hill Resources have reported that Oyu Tolgoi underground phase financing agreement to be signed by the end of this year. The report also noted that the financing negotiations of the investors are having significant advancements and moreover the Feasibility Study for OT is being renewed.
According to the report the Q2 of 2015 copper concentrate production has increased by 64.6 percent reaching 215.5 thousand tons, which is the historic high since the commencement of the concentrator. The copper content has increased by 64.5 percent, while the gold content increased by 178 percent in the copper concentrate.
Increase of throughput by 20 percent and ore content has resulted in the intensification of the production. According to the Turquoise Hill Resources report the ore content is expected to be high in the second half the year as well. Copper Concentrator at OT was commenced in February of 2013 and had its first export in July of 2013.
In February 2015 OT had reached its milestone of production of the 1 millionth concentrate. The company expectation is to produce copper concentrate with 185 thousand tons of copper concentrattion and 650 thousand ounces of gold concentration for this year.
As of the investments, investors agreed on continuing of the underground development of OT as it contains about 80 percent of the total deposits.
USD 4.2 billion out of total USD 4.9 billion needed for the financing of the underground phase is to be funded through the committment of the international banking and financing institutions.