OT: 134,100 TONS OF CONCENTRATE PRODUCED IN THIRD QUARTER

Ulaanbaatar /MONTSAME/ Oyu Tolgoi LLC Wednesday released its quarterly production report, providing an update on production and performance. Between July and September of 2014, OT produced 134,100 tonnes of concentrate, bringing total production so far this year to 377,000 tonnes. In September, concentrate production was impacted by operational damage to the rake arms of one of OT’s two tailings thickeners. The concentrator operated at approximately 60 percent throughput during the repairs. Despite reduced throughput, Q3’14 metal production was in-line with the previous quarter due to higher head grades. Concentrate sales continued to exceed production rates in Q3’14 resulting in further inventory drawdown. OT Chief Financial Officer, Steve Duggan, said: “Our workforce coordinated an impressive effort across the business to safely and quickly repair the thickener rake arms while limiting the overall impact on production. “We continue to make good progress in moving from the post-commissioning phase of the business into steady-state operations."