The first blast of the Oyu Tolgoi underground mine was carried out

• The historic launch of the Oyu Tolgoi underground mine is taking place today. In this context, Prime Minister L.Oyun-Erdene and Rio Tinto CEO Jakob Stauscholm signaled the first blasting of the underground mine.
• With the start of underground mining production, it is expected that operations will stabilize in the first half of 2023 and operate at full capacity. More than 80 percent of the Oyu Tolgoi deposit's reserves are located underground. Oyu Tolgoi will operate by underground block caving.
• With the full operation of the underground mine, Mongolia will have the world's fifth-largest high-tech underground mine, become one of the major players in the international copper market, and increase the benefits to the economy and the state budget. In particular, Oyu Tolgoi is expected to earn USD 5 billion in sales, and royalties to Mongolia are projected to triple to MNT 700 billion a year.
• The inauguration ceremony was attended by members of parliament, government officials, and Rio Tinto executives.
• Prime Minister L.Oyun-Erdene said, "The long-awaited underground mining project is ready to start today. On this day, the Mongolian people have confidence in the investor side again. Perhaps this is the last hope."
• Jacob Stausholm, CEO of Rio Tinto Group, said: "I am delighted to be back in Mongolia, at Oyu Tolgoi. This Mongolian-made, labor-intensive mine is critical to supporting the global economic transition. Oyu Tolgoi will produce half a million tons of copper a year at its peak."

Source: ikon.mn