SALES AND FINANCIAL RESULTS

Between 2013 and 2024, OT LLC generated a total sales revenue of USD 16.3 billion (averaging USD 1.5 billion per year), with sales consisting of 67% copper, 31% gold, and 2% silver.

DIRECT PROJECT CONTRIBUTION

As of 2014–2024, the Oyu Tolgoi project accounted for 16.8% of Mongolia’s total export revenues, 20.4% of mineral exports, and 44% of the country’s foreign currency reserves.

Between 2010 and 2023, the project contributed a total of USD 2.8 billion in taxes and fees to the state budget.

• The underground mine is fully transitioning from the development phase to the production phase.
• The 30-year Investment Agreement (IA) has entered its second half.
• The scheduled review and reduction of loan interest rates, which occurs every 7 years, will take place in 2025.
• Construction of permanent housing for Oyu Tolgoi employees will begin.
• Parliament has legislated to upgrade Khanbogd soum to a city with local status.
• A renewable energy project has been launched, aiming to reduce imported energy consumption by 30%.

• The feasibility study (FS) for the "Kherlen Toonoo" project — a water reservoir project based on the Kherlen River to supply ecological water to the Gobi region, reduce desertification, and support the "Billion Trees" initiative — is underway.
• The Preliminary Feasibility Study (PFS) for a pure cathode copper production project is scheduled to be completed by June 2025.
• The tax dispute will be resolved.
• The project will continue to play a key role in strengthening the country's foreign currency reserves.

PROCUREMENT

• Between 2010 and 2023, a total of USD 12.6 billion in procurement was made, of which 89% or USD 11.2 billion was sourced locally.
• In 2024, OT LLC's procurement team worked with 1,044 suppliers — 72% (752) were domestic suppliers, and 28% (292) were foreign suppliers.
• In 2024, a total procurement of USD 1.6 billion was made.

WORKFORCE

• As of the end of 2024, a total of 20,549 employees (comprising 720 foreign and 19,824 domestic direct and contract employees) were working at the project, of which 96.5% are Mongolian citizens — 23.3% of them are women, and 21% are residents of Umnugovi province.