TURQUOISE HILL RESOURCES CONTINUES TO EXPECT INTENDED OUTPUT FROM OYU TOLGOI FOR 2016

Oyu Tolgoi announced October 21 an update on its production for the third quarter of 2016. Oyu Tolgoi continued to deliver solid safety performance over the past quarter, achieving record material mined over the quarter crossing 25 million tonnes and delivering continuing progress with underground development - including award of critical contracts.

Safety continues to be a major focus throughout Oyu Tolgoi’s operations and the mine’s management is committed to reducing risk and injury. Oyu Tolgoi achieved an excellent safety performance with an All Injury Frequency Rate of 0.13 per 200,000 hours worked for the nine months ended September 30, 2016.

Oyu Tolgoi set an all-time high in Q3’16 for quarterly material movement of more than 25 million tonnes. This record includes stripping for Phase 4, which is the next area of high-grade ore. In Q3’16, concentrator throughput declined 4.0 per cent over Q2’16 due to planned maintenance and conveyor belt repairs. Copper production in Q3’16 declined 9.9 per cent over Q2’16, as a result of lower recovery from Phase 6 ore. As expected, gold production in Q3’16 declined 47.1 per cent over Q2’16 due to lower grades from the completion of mining Phase 2.

Good progress continues with underground development. During Q3’16, work began for Shaft 5 sinking and the convey-to-surface box cut excavation while construction of critical on-site facilities continued. Oyu Tolgoi recently signed an additional underground mining and support services contract with Dayan Contract Mining, a joint venture between Hasu Megawatt and Redpath, for the sinking of Shafts 2 and 5. At the end of Q3’16, the underground workforce was approximately 1,600 people and is expected to reach 2,400 people by the end of 2016.

Turquoise Hill Resources continues to expect Oyu Tolgoi to produce 175,000 to 195,000 tonnes of copper in concentrates and 255,000 to 285,000 ounces of gold in concentrates for 2016, reports ot.mn.

Source:http://en.montsame.mn/mining/turquoise-hill-resources-continues-expect-intended-output-oyu-tolgoi-2016