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Oyu Tolgoi is being developed in phases – its initial open pit mine has already contributed more than $1 billion in taxes and other payments to the Government of Mongolia, plus about $4 billion for local businesses and suppliers since 2010. The World Bank Group support announced today is for the mine's Phase 2 underground expansion.
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Oyu Tolgoi website. Oyu Tolgoi is one of the world's largest new copper-gold mines and is located in the South Gobi region of Mongolia, approximately 550 km south of the capital, Ulaanbaatar, and 80 km north of the Mongolia-China border. Oyu Tolgoi has the potential to operate for approximately 100 years from five known mineralized deposits.
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Introduction. "Friedland came out his helicopter. He had a red jumper and running shoes on. He kissed the land and run straight to the Oyu Tolgoi discovery site.". A local elder told me this story. The date is not clear but he surely referred to the early 2000s when there was exploding excitement around the discovery of the Oyu Tolgoi deposit.
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09 April 2021. MELBOURNE, Australia-- (BUSINESS WIRE)--Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the "Funding Plan") for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining …
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Mining giant Rio Tinto built the $6.6 billion, 80-square-kilometer (30-square-mile) Oyu Tolgoi mine in the South Gobi Desert. It is the largest industrial enterprise ever constructed in Mongolia, and, with 7,500 workers, the nation's largest employer. Click image to enlarge. By Keith Schneider. Circle of Blue.
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