U.Khurelsukh, the President of Mongolia, visited the Oyu Tolgoi underground mine for the first time at the invitation of Rio Tinto Group CEO Jacob Stausholm, expressing pride in the 20,000 workers, most of whom are Mongolian.
Since opening its underground operations in 2022, Oyu Tolgoi has expanded production, with 2025 output increasing by 50% compared to the previous year. By 2028-2030, the mine is expected to produce an average of 500,000 tons of copper annually, making it the world’s fourth-largest copper mine. At full capacity, the mine will produce enough copper for 17,000 electric vehicles daily.
President U.Khurelsukh praised the Mongolian and international experts responsible for this world-class underground project at 1,300 meters depth. He highlighted the mine’s increasing production, safety innovations, and advanced technology, calling it a model for future mining developments.
As of 2023, Rio Tinto has invested approximately $17 billion in the Oyu Tolgoi project. Since 2010, the company has paid MNT 12 trillion in taxes. In the fourth quarter of 2024 alone, Oyu Tolgoi collaborated with more than 1,000 businesses, making purchases totaling one trillion tugriks. In Umnugovi province, the mine has procured goods and services worth MNT 4.9 trillion since 2010 and provided MNT 187 billion in funding for 354 local projects. Additionally, an accelerator fund dedicated to Khanbogd’s development has been established, with investments totaling 170 billion tugriks.
Currently, Oyu Tolgoi employs over 20,000 people, with Mongolians comprising 97% of the workforce. Among them, 25% are residents of Umnugovi province. Women account for 23% of the total workforce, and the company aims to increase this figure to 50% within the next decade.
Between 2014 and 2024, Oyu Tolgoi accounted for approximately 17% of Mongolia’s total export revenue, 20% of mineral exports, and 44% of the country’s foreign exchange reserves. The total economic benefit expected from the project between 2024 and 2051 is estimated at $11.9 billion.
To further support workforce development, the company has established the South Gobi Underground Mining Institute, which is training domestic and international professionals to compete in the global mining industry.