Oyu Tolgoi mine

Ojuu Tolgoi (Mongolian Оюу Толгой, also Oyuu Tolgoi, Turquoise Hill) is a large copper and gold deposit in southern Mongolia, approximately 235 km east of Dalandsadgad, the capital of Ömnö Gobi aimags in the district ( Sum) Chanbogd. Chanbogd is located 40 km northeast of Ojuu Tolgoi.

History

Archaeological finds such as minor abrasions points and slag residues show that was mined and smelted copper during the Bronze Age in Ojuu Tolgoi.

In the 1980s, the area was examined by a Russian- Mongolian geology expedition and found a molybdenum anomaly.

In 1997, BHP Billiton began with a detailed exploration of the Ojuu - Tolgoi area. After geophysical explorations total of 6 exploratory wells were pushed together with 1100 meters of drilling in the autumn of 1997. Based on the results of this first phase of drilling in 1998 further 13 holes (2000 meters) were drilled in April, 4 of which were successful. In the summer of the year 4 holes ( 800 meters) have been pushed into a third drilling campaign finally, have not found it. Due to the mixed results of the entire project, a review was undertaken.

Investments

The planned mine in Ojuu Tolgoi is operational in 2013, initially as an open pit. After an initial 45 - year life of the mine, the planned Ojuu Tolgoi project will require a total investment of 7.3 billion U.S. $ over the term of the project, making it the largest development project and the largest foreign investment in the history of Mongolia.