Chairman of OT Board of Directors addresses Asia Mining Congress 2014

Ulaanbaatar /MONTSAME/ Chair of the Board of Directors of Oyu Tolgoi LLC Mr Batsukh Galsan spoke of the challenges of building, running and developing a mega-mining project like Oyu Tolgoi at the annual Asia Mining Congress kicked off Monday in Singapore. Regarding early days of OT's development, Mr Batsukh said: “When the early discoveries were made at OT - they created significant excitement in the investment world. Gradually, these discoveries have put Mongolia on the global mining map”. "Building a mine and infrastructure on the scale needed was an obvious challenge. Today construction of the open pit and concentrator is complete. OT is an operating business, with a workforce of 7,500 people. We are now mining, producing and selling copper concentrate. OT has all the keys for successful operation, based on the strong support from the Government and Rio Tinto's global standard of management and expertise," Mr Batsukh said. "There is more to do, but we are beginning the change from a capital-intensive construction project to a safe, sustainable and profitable business, which delivers value for all our shareholders and stakeholders," he emphasized. Finally, the Chairman reflected on all that has been achieved at OT and the challenges that have been overcome: "We must remember only four years ago, there was only a medium size camp, a lonely exploration shaft and those planning the construction. Now, it is an operating mine complex, with some of the best technology and people in the world. "Yes, the challenges were great. You need infrastructure, you need to create a supply chain, you need to create a skilled workforce, you need to forge and strengthen a partnership between Government and investors. OT provided an opportunity for innovation and the creation of a long life, low cost project which offset the short term infrastructure challenges," he said. The Asia Mining Congress brings together miners and investors from across the continent to learn lessons, and discuss the latest industry an investment trends.