Turquoise Hill Resources Ltd. has reported higher ore grades increasing Q4 2014 production to meet guidance at Mongolia’s massive Oyu Togloi copper-gold project. Q4 output, officials added, stood at 50,300 copper tons and 278,000 gold oz despite last month’s concentrator fire; full production has since resumed.
Following guidance, 2014 production at the operation deep in the South Gobi Desert was 148,400 copper tons and 589,000 gold oz in concentrates, according to representatives at the Rio Tinto subsidiary; Oyu Tolgoi is one of the largest operations of its kind in the world, representing a major slice of Mongolia’s economy.
Turquoise Hill officials anticipate a good year. “Despite some operational interruptions, we look forward to achievements throughout 2015,” said CEO Jeff Tygesen. Oyu Tolgoi is pending annual guidance up to 195,000 copper tons and 700,000 gold oz.; based on this year’s plans, high-grade zone output is targeting Q3 2015.