OYU TOLGOI RELEASES 2018 PERFORMANCE SCORECARD

Alleen voor leden beschikbaar, wordt daarom gratis lid!

Algemeen advies 23/01/2019 17:52
•Oyu Tolgoi remains one of the safest mines in the world
•Total in-country spend reaches US$8.7 billion, US$322 million taxes paid; US$439 million in national procurement in 2018
•Celebrated fifth anniversary of the first export shipment in July 2018
•Workforce of 17,000 – including contractors and employees
•Exceeds 2018 full-year production guidance for both copper and gold

Ulaanbaatar, Mongolia - Oyu Tolgoi LLC today released the latest edition of its scorecard updating on its performance for 2018.

In 2018 Oyu Tolgoi LLC delivered strong performance results and continued to progress the underground development. In the last month of the year, it has reached an agreement with the Government of Mongolia that sets out a pathway for Oyu Tolgoi to construct a power plant, which will secure a long-term domestic power solution for Oyu Tolgoi.

Oyu Tolgoi workforce has demonstrated a strong safety performance and as a result, the company has achieved an All Injury Frequency Rate (AIFR) of 0.16 per 200,000 hours worked.

As of the fourth quarter of 2018, 92.6 per cent of Oyu Tolgoi’s over 17,000 employees were Mongolian, 20.4 per cent of which were from the Umnugovi province. 58.1 per cent of the total workforce were underground workforce. Education and training are major focus areas for Oyu Tolgoi. Delivering the vision to create enduring value, knowledge and skills, Oyu Tolgoi provided 904,641 man hours of training to nearly 17 thousand employees and contractors in 2018.

Oyu Tolgoi accomplished significant milestones in partnership with the local community during the third year of the Cooperation Agreement between the company and its partner communities established in 2015. The milestones include the commissioning of Khanbogd School and Kindergarten complex which has capacity for 640 students and over 200 children, Inter-Soum Animal Healthcare Centre and Khanbogd-Oyu Tolgoi paved road.

Oyu Tolgoi paid US$2.3 billion in taxes, fees and other payments to the Government of Mongolia between 2010 and 2018, including, US$322 million in 2018.

Oyu Tolgoi also maintained its world-class environmental performance, with only 0.4 cubic metres of water per tonne of ore processed – three times less, compared to similar operations worldwide - and achieving an average water recycling rate of 88 per cent over the period. Oyu Tolgoi was named the Best Water Saving Mine in the VCP Water Stewardship Award by International Finance Corporation. For more information about water usage and resources click here.

Oyu Tolgoi collaborated with 898 suppliers in 2018, 618 of which are national businesses that account for 78 per cent of total operations procurement spent. Between 2010 and 2018, Oyu Tolgoi spent US$2.7 billion on national procurement, US$413 million of which was spent on procurement from Umnugobi suppliers.

The Oyu Tolgoi Performance Scorecard for Q4 2018 is available here.

Q4’18 Production report

Highlights:
•Exceeded full-year production guidance for both copper and gold by 2.6 per cent and 1.8 per cent respectively
•Full year copper production of 159,100 tonnes, up 1.1 per cent on 2017
•Full year gold production of 285,000 ounces, up 150.0 per cent on 2017

Gold production in Q4’18 increased 234.3 per cent over Q4’17 due to significant increases in both grades and recovery. Copper production in Q4’18 declined 8.4 per cent over Q4’17 due to lower throughput, which was partially offset by higher grades and recovery. As planned, mill throughput in Q4’18 decreased 13.6 per cent over Q4’17 due to the concentrator processing harder Phase 4 ore compared to the processing of predominately softer Phase 6 ore in Q4’17.

Oyu Tolgoi is expected to produce 125,000 to 155,000 tonnes of copper and 180,000 to 220,000 ounces of gold in concentrates for 2019. Open-pit operations are expected to mine Phase 4 throughout the year. Mill throughput for 2019 is expected to be approximately 40 million tonnes.

Underground lateral development is expected to advance 15 to 16 kilometers during 2019.

Oyu Tolgoi Production Data (as reported by Turquoise Hill)

All data represents full production and sales on a 100 per cent basis
4Q 2017 1Q 2018 2Q 2018 3Q 2018 4Q 2018 Q4’18 vs. Q4’17 Full Year 2018 Full Year 2017 2018 vs. 2017
Open pit material mined (‘000 tonnes)28,929 23,131 22,792 22,523 22,863-21.0%
91,310 105,921 -13.8%
Ore treated (‘000 tonnes)10,838 9,561 10,164 9,652 9,361 -13.6% 38,738 41,177
-5.9%
Average mill head grades:
Copper (%) 0.53 0.51 0.48 0.51 0.55 3.8% 0.51 0.51 0.0%
Gold (g/t) 0.20 0.25 0.26 0.38 0.56 180.0% 0.36 0.17 111.8%
Silver (g/t) 1.54 1.32 1.17 1.19 1.22 -20.8% 1.22 1.39 -12.2%
Concentrates produced (‘000 tonnes) 205.4 177.3 178.8 179.8 189.0 -8.0% 724.9
722.5 0.3%
Average concentrate grade (% Cu) 22.0 21.9 22.0 21.9 21.9 -0.5% 21.9 21.8 0.5%
Production of metals in concentrates:
Copper (‘000 tonnes) 45.3 38.8 39.4 39.4 41.5 -8.4% 159.1 157.4 1.1%
Gold (‘000 ounces) 35 42 50 77 117 234.3% 285 114 150.0%
Silver (‘000 ounces) 285 221 225 230 238 -16.5% 914 974 -6.2%
Concentrate sold (‘000 tonnes) 175.5 163.1 220.0 171.9 191.4 9.1% 746.4 724.3
3.1%

Sales of metals in concentrates:
Copper (‘000 tonnes) 35.7 34.3 46.1 36.0 40.2 12.6% 156.7 149.3 5.0%
Gold (‘000 ounces) 27 31 51 55 111 311.1% 248 111 123.4%
Silver (‘000 ounces) 205 206 250 201 216 5.4% 873 860 1.5%

Metal recovery (%)
Copper 78.0 79.5 79.7 80.9 84.8 8.7% 81.4 75.4 8.0%
Gold 50.5 55.0 59.8 64.7 71.7 42.0% 65.2 49.7 31.2%
Silver 53.0 54.6 58.4 62.8 67.1 26.6% 60.9 52.9 15.1%

Click here to see the full Turquoise Hill announcement.


About Oyu Tolgoi LLC (www.ot.mn)

Oyu Tolgoi LLC, Mongolia's largest copper and gold mining company, is a strategic partnership between the Government of Mongolia, Turquoise Hill Resources and Rio Tinto. Located in the South Gobi, Oyu Tolgoi commenced shipment of product to customers in July 2013. Oyu Tolgoi is managed by Rio Tinto, which is investing global expertise and cutting-edge technology to help develop Mongolia’s mining industry and ensure Oyu Tolgoi is one of the world’s most advanced mines. For Oyu Tolgoi, nothing matters more than safety. The business operates under the principle that if a job cannot be done safely, it will not be done at all.

For more information, connect with us on Facebook and Twitter.



Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord


Copyrights © 2000 by XEA.nl all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.


Copyrights © DEBELEGGERSADVISEUR.NL