Oyu Tolgoi Finishes Sinking of Shaft 2
“The completion of Shaft 2 sinking is the first of a number of key milestones that will lead to production of copper and gold from Hugo North Lift 1,” said Jeff Tygesen, Turquoise Hill CEO. “At peak production around 2025, Oyu Tolgoi is expected to be the world’s third largest copper mine.”
Shaft 2 is 1,284 meters in depth, 10 meters in diameter, and will be used for access, production and ventilation. Despite the recent declaration of force majeure at Oyu Tolgoi, there has been no disruption to goods and services arriving for underground development.
In related news, force majeure for Oyu Tolgoi concentrate delivery customer contracts remains in place. On January 19, trucks, including Oyu Tolgoi concentrate convoys, recommenced crossing the Ganqimaodu Border Zone. A consistent period of convoy crossing in order to determine a stable concentrate supply chain is required before force majeure can be lifted. Safe and normal mine operations have been maintained and no production impact is expected.