On the 15th of April, the Oyu Tolgoi LLC, the largest copper mine in Mongolia released its production report for the first quarter of 2015.
According to the press release, concentrate production in the quarter of 2015 decreased approximately by 30 per cent in comparison with the 4th quarter of 2014 driven by resource sequence and therefore impacted by lower mill head grades as well as a planned maintenance and improvement shutdowns. The shutdown was completed on time and with no injuries.
Concentrate sales for the quarter exceeded production, despite slowing during the Lunar New Year when border and customs operations were closed for an extended period.
Oyu Tolgoi paid US$66.4 million in taxes for the quarter and spent US$78.3 million on national procurement in the same period.
Based on the current mine schedule, Oyu Tolgoi is expected to produce 175,000 to 195,000 tonnes of copper and 600,000 to 700,000 ounces of gold in concentrates in 2015.