According to its 2017 financial results and operational review, Oyu Tolgoi JSC set operational records for its total material mined and concentrator throughput during 2017. Oyu Tolgoi's copper production totalled 157,400 tonnes and gold production - 114000 ounces in 2017, meeting the company’s guidance. It was highlighted that Oyu Tolgoi achieved an All Injury Frequency Rate of 0.27 per 200 thousand hours worked for the whole year. The company's revenue resulted USD 939.8 million in 2017, reflecting lower sales volumes partially offset by higher copper prices compared with USD 1,203.3 million in 2016. For 2017, the company recorded income of USD 110.9 million and net income attributable to owners of Turquoise Hill Resources (TRQ) of USD 181.2 million or USD 0.09 per share. TRQ generated cash flow from operating activities before interest and tax of USD 325.8 million in 2017, with net cash generated from operating activities of USD 118.0 million. Oyu Tolgoi’s cost of sales was USD 2.32 per pound of copper sold, cash cost per unit of extracting and processing the metal products were USD 1.92 per pound of copper produced and all-in sustaining costs were USD 2.39 per pound of copper produced. Operating cash costs of USD 711.6 million in 2017 beat the Company’s guidance.

Published Date:2018-03-20