The "Oyu Tolgoi" company has presented key performance indicators for the fourth quarter of 2023, highlighting progress in the underground mining project. The safe advancement of the underground mine aims to achieve an annual copper production target of 500,000 tonnes between 2028 and 2036.

During the fourth quarter, 14 ore pits were blasted to enhance underground mining, increasing the total number of ore dumps at the Panel 0 mining level to 86. Emphasizing safety, "Oyu Tolgoi" LLC is committed to meeting the business goal of reaching an average of 500,000 tons of copper mined per year from 2028 to 2036.

The construction of a conveyor belt to transport ore from the underground mine to the surface is progressing, with approximately 88 percent completion by the end of the fourth quarter of 2023. This conveyor belt is set to become operational in the second half of 2024.

Concurrently, the planned expansion of the concentrator is underway, with phased completion expected from the fourth quarter of 2024 to the second quarter of 2025.

Significant improvements have been made in the vertical penetration of the mine mouths, reaching 923 and 1,013 meters for the front and rear ventilation mouths by the end of December. Plans are underway to increase these to 1,130 and 1,176 meters, with the commissioning of these two shafts anticipated in the second half of 2024.

The vertical penetration of the mine mouths is nearing completion, showcasing the company's commitment to advancing its mining operations.

Source: mining.mn