Tuesday 9 July 2013

Oyu Tolgoi Has Started Shipping Copper Concentrate To Customers

Copper......
Oyu Tolgoi has started shipping copper concentrate to customers from its copper and gold mine in Mongolia. The shipping of concentrate is the culmination of a three-year, US$6.2 billion project to build the first phase of one of the world's top five copper mines.
Rio Tinto Copper chief executive Jean-Sebastien Jacques said “It has taken the vision and hard work of thousands of people to get to this point, where we are starting to convert the rich resources beneath the desert into real wealth and opportunity for all stakeholders, including the Mongolian people.
“Oyu Tolgoi starts production at a time when undeveloped quality copper assets are scarce and the outlook for copper continues to be strong. With continued development, Oyu Tolgoi will generate wealth for many decades to come.”
All permits for exporting copper concentrate are in place, together with Oyu Tolgoi Board approvals, and authorities required for continued concentrate sales. Oyu Tolgoi remains committed to maintaining transparency in its operations and managing export revenues consistent with the Investment Agreement.
Source by Commodity Insights

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