Oyu Tolgoi (OT) LLC, Mongolia’s largest copper and gold mining company, announces the first quarter 2020 performance results, highlighting key performance metrics, and provided an update on underground development, and prevention measures on COVID-19. OT paid USD 73 million in the form of taxes, fees, and other payments as of April. Since 2010, the company has paid USD 2.7 billion in taxes, fees, and other payments, including VAT, paid to Mongolian suppliers. Between 2010 and the first quarter of 2020, Oyu Tolgoi spent USD 3.3 billion on national procurement, the company said in a report. The company and employees donated MNT 455 million to support the outbreak prevention efforts of COVID-19, including MNT 100 million to the Government of Mongolia (GoM) through the Mongolian National Mining Association, MNT 200 million to the Umnugovi Emergency Committee, and MNT 10 million to the Khanbogd Emergency Committee through the Gobi Oyu Development Support Fund. OT chief executive officer, Armando Torres, said, “We would like to express our gratitude to the Government of Mongolia, the State Emergency Committee at all levels, the Ministry of Health, the Ministry of Mining and Heavy Industry, and all other relevant agencies and frontline personnel working hard to keep us safe during this unprecedented time”.

Published Date:2020-05-07