Oyu Tolgoi released the latest edition of its scorecard updating its performance for the second quarter of 2017 after having shipped its three millionth ton of concentrate.
In terms of production, material mined increased 3.5 percent in the second quarter of 2017 compared to the first quarter, while grades for the quarter were low compared to the first quarter. Copper and gold production for the second quarter was similar to the first quarter production despite the planned maintenance shutdown. Sales of copper in the second quarter decreased 5.6 percent over the first quarter due to lower concentrate volumes during the quarter. Gold sales in the second quarter decreased 28.1 percent over the first quarter due to sales including some higher- grade concentrate from the fourth quarter of 2016.
Armando Torres, CEO of Oyu Tolgoi, said, “The second quarter marked an important milestone for the business [with] the three millionth ton of concentrate shipped less than four years after the first shipment was delivered to our customers. This achievement is built on the exemplary efforts and support of our workforce, partners, and shareholders. As we look to the second half of the year, we remain focused on delivering on our business targets for 2017 and maintaining the momentum of the underground project.”
The All Injury Frequency Rate stood at 0.27 per 200,000 hours worked in the second quarter, as the operations and underground teams maintain significant focus in building
a strong safety culture across the business. In the second quarter, 141,800 hours of safety training was delivered to over 11,000 employees and contractors.
Oyu Tolgoi reported of its continued effort to deliver on its commitment to environmental protection, particularly in the area of water use with a reported 0.373 cubic meters of water per ton of ore processed during the reporting quarter. According to the company this figure is significantly better than the global average of 1.2 cubic meters of water per ton. In addition, Oyu Tolgoi has reached a recycling rate of 88.7 percent.
Oyu Tolgoi expects to produce 130,000 to 160,000 tons of copper and 100,000 to 140,000 ounces of gold in concentrates in 2017.