Erdenes Oyu Tolgoi LLC and Oyu Tolgoi LLC signed the Statement of Work II in the frame of their partnership to update the Feasibility Study of the Kherlen Toono Project

Ulaanbaatar, Mongolia- On May 31, 2024, Erdenes Oyu Tolgoi LLC CEO E. Gankhuu and Oyu Tolgoi LLC CEO Deirdre Lingenfelder signed Statement of Work II, reinforcing their partnership to update the Feasibility Study of the Kherlen Toono Project. This falls under the Partnership Agreement on Environmental, Social, and Governance signed on March 29, 2023 and enables Erdenes Oyu Tolgoi LLC to organize a tender to select a contractor company to develop the updated Feasibility Study of Kherlen Toono Project and monitor its performance.

During the signing Erdenes Oyu Tolgoi CEO E.Gankhuu expressed her gratitude and stated, “Our cooperation to update the Feasibility Study of the Kherlen-Toono roject marks the beginning of a significant effort to enhance precious water resources.”

Oyu Tolgoi CEO Deirdre Lingenfelder highlighted that “The signing of the Statement of Work aligns with Oyu Tolgoi's long-term strategic priorities of People and Partnership. This undertaking is essential for determining the feasibility of the Kherlen Toono Project with minimal environmental and social impact. A strong partnership is crucial for developing a high-quality Feasibility Study that meets both domestic and international standards."

The Project’s initial Feasibility Study was done around 10 years ago, in 2014. To proceed with investment and construction, the Feasibility Study must have been updated within the past five years.

Oyu Tolgoi, in line with its strategic goal to contribute to national water security, is partnering with Erdenes Oyu Tolgoi, representing the Government of Mongolia, and providing financial assistance of USD3 million towards updating the Feasibility Study of the Kherlen Toono Project.
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 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.

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