Name and Location
Oyu Tolgoi copper/silver/gold complex, Southern Gobi region, Mongolia.

Client
Turquoise Hill/Rio Tinto (66%) and Erdenes Oyu Tolgoi (34%).

Project Description
Oyu Tolgoi has the mineral resources to become one of the world’s top three copper/gold producers. The project entails the construction and operation of an initial concentrator facility that will process 100 000 t/d of ore (36.5-million tons a year). By the end of the fifth year of operation, the concentrator will be expanded to a capacity of 160 000 t/d (58-million tons a year).

Under the common start-up plan, ore will initially be sourced from the openpit mine on the Southern Oyu deposits, while the adjacent higher-grade underground mine on the Hugo North deposit will be developed to full production of 85 000 t/d.

The mine is expected to produce more than 1.2-billion pounds (544 000 t) of copper, three-million ounces of silver and 650 000 oz/y of gold in the first ten years of operation and, seven years later, at its peak it is expected to produce about 1.7-billion pounds of copper and one-million ounces of gold.

Value
The initial capital cost required to achieve first production from the openpit mine on the Southern Oyu deposits is an estimated $6-billion.

Duration
Commercial production from the openpit operation is planned for the first half of 2013, while initial production from the underground mine is expected in 2016.

Latest Developments
Turquoise Hill Resources celebrated the commissioning of the Oyu Tolgoi mine’s concentrator on December 27, 2012.

The occasion was commemorated by activating the concentrator’s ore-processing circuit for the first time.

The mine was expected to process first ore through the concentrator by the end of 2012, with first concentrate production to follow within one month.

The start of commercial production is expected to follow three to five months later.

Key Contracts and Suppliers
Fluor Corporation (project management), Amec (feasibility study for Lift 1 of the Hugo North underground block-cave operation), RSV Enco Consulting (shaft engineering); AC-Tek (dynamic simulation of underground conveyors) and Analytical Laboratory Consultants (laboratory service design on the project).

On Budget and on Time?
The project is on track to begin commercial production in the first half of 2013.

Contact Details for Project Information
Oyu Tolgoi, tel +976 11 331880, fax +976 11 331890 or email OTLLCinfo@ot.mn.
Turquoise Hill Resources media contact Tony Shaffer, tel +1 604 648 3934 or email tony.shaffer@turquoisehill.com.
SGS manager on-site laboratories Pierrette Prince, tel +1 416 445 5755, fax +1 416 445 4152 or email pierrette.prince@sgs.com.
Fluor media relations, Keith Stephens, tel +1 469 398 7624.
Amec director of communications Sue Scholes, tel +44 20 7539 5800.
RSV Enco Consulting, tel +27 11 498 6010, fax + 27 11 498 6210 or email enco@rsvenco.com.
AC-Tek, tel +1 501 345 5748 or fax +1 501 345 5748.