Tavan Tolgoi

Erdenes Tavantolgoi JSC (ETT) Holds its Annual General Meeting and Vows to Create 21,000 Jobs By 2025.

Retrieved on: 
Wednesday, April 27, 2022

The Annual General Meeting of Erdenes Tavantolgoi JSC, one of the largest mining companies in Mongolia, was held on April 22, 2022, at the Tsankhi Town camp in Tsogttsetsii soum, Umnugovi province.

Key Points: 
  • The Annual General Meeting of Erdenes Tavantolgoi JSC, one of the largest mining companies in Mongolia, was held on April 22, 2022, at the Tsankhi Town camp in Tsogttsetsii soum, Umnugovi province.
  • The meeting reviewed Erdenes Tavantolgoi JSC's Operational and Financial report for 2021, implementation of the "A6-20" Business Plan, and the pressing issues of delivering the medium-term business plan and long-term strategy.
  • Erdenes Tavantolgoi's coal exports fell sharply due to the border closure caused by the global pandemic.
  • Erdenes Tavan Tolgoi (ETT) is a Mongolian state-owned joint-stock company that operates the East Tsankhi section of the Tavan Tolgoi deposit.

The First-of-Its-Kind Agreement in the Metaverse

Retrieved on: 
Wednesday, February 16, 2022

In a sign of changing times, Erdenes Tavantolgoi JSC (ETT JSC), the state-owned Mongolian mining powerhouse, and Frontera Capital Group Limited (FCGL) signed the first-of-its-kind legally binding agreement via their avatars in the Metaverse recently.

Key Points: 
  • In a sign of changing times, Erdenes Tavantolgoi JSC (ETT JSC), the state-owned Mongolian mining powerhouse, and Frontera Capital Group Limited (FCGL) signed the first-of-its-kind legally binding agreement via their avatars in the Metaverse recently.
  • The agreement, structured to raise funds for the third tranche of an ETT JSC bond, was handled by MICC LLC, ETT JSCs underwriting company (reference number: ETT-2021/517).
  • View the full release here: https://www.businesswire.com/news/home/20220215005661/en/
    The legally binding agreement in the Metaverse is structured to raise funds for the third tranche of an ETT JSC bond.
  • (Photo: Business Wire)
    The nature of the signing ceremony marks a clear commitment to lean business and the benefits of digital transformation.

Agreement reached on a preferred long-term power supply for Oyu Tolgoi

Retrieved on: 
Sunday, June 28, 2020

Rio Tinto, Turquoise Hill and the Government of Mongolia have reached an agreement on the preferred domestic power solution for Oyu Tolgoi that paves the way for the Government to fund and construct a State Owned Power Plant at Tavan Tolgoi.

Key Points: 
  • Rio Tinto, Turquoise Hill and the Government of Mongolia have reached an agreement on the preferred domestic power solution for Oyu Tolgoi that paves the way for the Government to fund and construct a State Owned Power Plant at Tavan Tolgoi.
  • The agreement, which is a revision of the Power Source Framework Agreement (PSFA) signed in 2018, states that the Parties will work towards finalising a Power Purchase Agreement by the end of March 2021.
  • Oyu Tolgoi currently uses imported power and both the Government of Mongolia and Oyu Tolgoi have committed to extending the current arrangement to ensure continued stable power is supplied to the mine and underground project until the State Owned Power Plant is commissioned and is able to supply stable, reliable and continuous power.
  • Arnaud Soirat, Copper & Diamonds chief executive, said, This agreement provides a potential pathway to securing a domestic power supply for the Oyu Tolgoi mine and underground project for the benefit of all shareholders and the wider community.

Turquoise Hill announces the submission of the Feasibility Study for the Tavan Tolgoi Power Plant Project

Retrieved on: 
Monday, February 17, 2020

MONTREAL, Feb. 17, 2020 /PRNewswire/ - Turquoise Hill Resources today announced the submission of the Feasibility Study for the Tavan Tolgoi Power Plant (TTPP) Project to the Government of Mongolia by Oyu Tolgoi LLC.

Key Points: 
  • MONTREAL, Feb. 17, 2020 /PRNewswire/ - Turquoise Hill Resources today announced the submission of the Feasibility Study for the Tavan Tolgoi Power Plant (TTPP) Project to the Government of Mongolia by Oyu Tolgoi LLC.
  • Oyu Tolgoi LLC is obliged under the 2009 Oyu Tolgoi Investment Agreement (Investment Agreement) to secure a long-term domestic source of power for the Oyu Tolgoi mine.
  • The power plant would be majority-owned by Oyu Tolgoi LLC and situated close to the Tavan Tolgoi coal mining district located approximately 150 kilometres from the Oyu Tolgoi mine.
  • The project aligns with the Parliament Resolution No.73 (2018) and the government policies to develop a power plant at the Tavan Tolgoi coal fields.

Rio Tinto progresses Oyu Tolgoi power options

Retrieved on: 
Monday, February 17, 2020

Rio Tinto continues to progress options to secure domestically sourced power for the Oyu Tolgoi copper mine in Mongolia, which it is obliged to do by 30 June 2023 under the 2009 Investment Agreement (IA) between Turquoise Hill, the Government of Mongolia and Rio Tinto and subsequent Power Sector Framework Agreement, signed in 2018.

Key Points: 
  • Rio Tinto continues to progress options to secure domestically sourced power for the Oyu Tolgoi copper mine in Mongolia, which it is obliged to do by 30 June 2023 under the 2009 Investment Agreement (IA) between Turquoise Hill, the Government of Mongolia and Rio Tinto and subsequent Power Sector Framework Agreement, signed in 2018.
  • In compliance with these agreements, Oyu Tolgoi LLC today submitted to the Government of Mongolia a Feasibility Study for the Tavan Tolgoi Power Plant (TTPP) Project, which involves building a 300 MW coal power plant.
  • In parallel with the TTPP Project, and in consultation with the Government of Mongolia, Rio Tinto is also progressing alternative options to source domestic power, including a renewable power component.
  • Rio Tinto Copper & Diamonds chief executive Arnaud Soirat said Rio Tinto, Turquoise Hill and the Government of Mongolia are all committed to securing a reliable and long term domestic power source for the Oyu Tolgoi mine and are working together to achieve this.