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Press release

Q3 2025 Performance results

2025.11.04

Q3 2025 Performance Scorecard can be viewed  here.  

Key Highlights:  

  • In the Q3 of this year alone, USD164 million was been paid in taxes, fees and other payments in Q3 2025. Since the beginning of 2025, the company has paid 1.6 trillion MNT to date. Since 2010, Oyu Tolgoi has paid USD5.3 billion in taxes, fees and other payments to Mongolian suppliers.  
  • In the Q3 2025, we collaborated with 736 suppliers, 553 of which were local, spending 90% of our operational procurement amounting USD392.1 million on these national suppliers. Since 2010, a total of 37.4 trillion MNT has been spent on in-country procurement spend.  
  • In the Q3 2025, Oyu Tolgoi spent USD606 million in-country in the form of salaries, payments to Mongolian suppliers, taxes and other payments to the Government of Mongolia. Since 2010, the company has spend US$20.6 billion in-country.  
  • Oyu Tolgoi used an average of 0.44 cubic metres of water per tonne of ore processed which is three times lower than the global average of 1.2 cubic metres per tonne. 

Community Sustainable Development Initiatives 

  • Gobi Oyu Development Support Fund  

Established in 2015 under the Cooperation Agreement between Oyu Tolgoi, Umnugovi province, and Khanbogd soum, the Gobi Oyu Development Support Fund (DSF) has implemented 550 wide range of sustainable development projects and programmes in health, education, employment, business development, environment, and cultural heritage. 

Oyu Tolgoi has annually contributed funding equivalent to USD5 million to DSF, investing a total of MNT 167.7 billion between 2015 and 2025. During this period, with funding from DSF, a series of projects and programs have been steadily implemented to transform Khanbogd soum into a well-developed town with modern infrastructure, and to position Umnugovi aimag as one of the leading provinces in Mongolia in terms of socio-economic competitiveness. In total, more than 840,000 people (accumulated) benefited from these projects and programmes. This includes individuals who expanded their businesses through microloans, students who received scholarships, children attending newly built schools and kindergartens, people who gained new employment, and herder households. For more information about the DSF, please visit this link: Говийн оюу хөгжлийн дэмжих сан. 

 

  • Tripartite Council of Khanbogd soum 

The Tripartite Council (TPC) was established in 2015 as a balanced representative body, created through multiple meetings and discussions to resolve disputes through negotiation, with the support of the Legal Compliance, Oversight, Advisory, and Ombudsman Office. 2 It consists of equal representation from local authorities, herder representatives, and Oyu Tolgoi. 

In 2017, the participating parties of the Tripartite Council signed two package agreements to address herders’ grievances. Under these agreements, a total of 64 issues across six subtopics, including pastures, water, compensation, and the Undain River, were agreed to be resolved, with Oyu Tolgoi fully responsible for providing the funding for implementation. The parties mutually agreed that the agreements would be considered complete once all activities were fully implemented. For more information, please visit: Tripartite Council. 

  • Oyu Tolgoi signed a Memorandum of Understanding (MoU) with the Governor’s Office of Khanbogd soum and the “Galbyn Gobi Torgon Sureg” cooperative, which represents all herder households in the soum. The MoU outlines joint efforts to implement sustainable livestock development projects in the region. The partnership supports value-added agricultural initiatives, including the establishment of a beef cattle fattening farm, the enhancement of camel milk production and its value, and the production of organic fertilizer from sheep wool. Oyu Tolgoi has committed MNT 1.7 billion to the first project within this framework, the beef cattle fattening farm project, covering capacity building and strategic planning support for the cooperative. For more information, please visit: https://shorturl.at/MOzUI. 
  • The MoU signed between Oyu Tolgoi LLC, Erdenes Oyu Tolgoi LLC, and the National Institute for Regional Development to promote economic development in the Gobi region on 27 August 2025 has been endorsed by the Deputy Prime Minister of Mongolia S.Amarsaikhan. Under the MoU, the partners aim to support the economic development of the Gobi region by developing local economic centers as clusters and planning Khanbogd soum as a regional economic hub. The initiative will also create opportunities to increase the income of local herders by promoting value-added livestock production and disseminating best practices from model cooperatives across the region. In addition, the partnership will conduct phased studies on the quality of drinking and domestic water, as well as groundwater resources, to ensure environmental sustainability. For more information, please visit: https://shorturl.at/cJVJU.   
  • Over 80 mining professionals have received their certificates from the Communities and Social Performance Foundations Programme, developed by the Centre for Social Responsibility in Mining at the University of Queensland, Australia within a transformative project aimed at strengthening systems and building capacity for responsible local engagement. This initiative provides targeted training to mining companies and relevant stakeholders, enhances the expertise of industry professionals, and promotes mutual understanding and cooperation within the sector. For more information, please visit: https://shorturl.at/bmt4h.   
  • Oyu Tolgoi organised its annual Open Days in Dalanzadgad, Khanbogd, Bayan-Ovoo, and Manlai soums of Umnugovi province to share the latest updates on operations, environmental performance, human resources, and training and employment opportunities. For more information, please visit: https://shorturl.at/vNpAu.  

Educational Initiatives 

  • Funded by Oyu Tolgoi through the Gobi Oyu Development Support Fund, the “Gobi Oyu – Student Scholarship” program has awarded 133 scholarships for the 2025–2026 academic year. Since 2016, the Gobi Oyu – Student Scholarship Programme has supported 763 students with a total of MNT2 billion in funding over the past 10 years. The scholarship recipients are students who are excelling in academic programs aligned with the high-demand professions in Umnugovi province. 85 percent of graduates have returned to Umnugovi province to work in their respective professions, contributing directly to local development. For more information, please visit: https://shorturl.at/n5W7E.  
  • Now in its sixth year, the “Gerelt” project, funded by Oyu Tolgoi, promotes mental, reproductive, and physical health among adolescents. For the 2025–2026 academic year, four schools, namely school numbers 14, 69, 120 and 147 in Bayanzurkh district, Ulaanbaatar are participating. Since its inception, “Gerelt” project has established 25 counselling “green rooms” and provided mental health and reproductive education to over 56,000 students, parents, and teachers. Oyu Tolgoi has invested USD 744,473 (approximately MNT 2.7 billion) through this project. For more information, please visit this link: https://shorturl.at/evpgJ.  
  • Oyu Tolgoi has officially offered employment to the young professionals selected for the 2025 Graduate Development Programme. This year, over 900 new graduates applied, and 28 were selected across 18 specializations. Over the next two years, these new graduates will have the opportunity to develop their professional and technical skills, work within their chosen teams and departments, and receive guidance from experienced professionals, mentors, and coaches to help shape their career paths. Since the programme’s launch in 2011, Oyu Tolgoi has supported a total of 261 graduates in starting their professional journeys within Oyu Tolgoi. For more information, please visit:  https://shorturl.at/g6MgM.  

Environmental Stewardship 

  • Oyu Tolgoi launched its “100 Million Trees for the Future” programme in 2022 within the Mongolia’s “Billion Trees” national movement. Over the past three years, Oyu Tolgoi has planted and nurtured more than 20.5 million trees through direct and offset planting. In Q3 2025, we carried out the following works: 
  • Began technical rehabilitation work on 600 hectares of degraded and abandoned land due to irresponsible mining activities along the Tsagaan Zur River in Khuder soum, Selenge province, aiming to restore all abandoned areas in the region by 2027. For more information, please visit the link: https://shorturl.at/pZb2a.    
  • The “Combating Desertification: A Green Future 2025” international scientific conference was held for its second year. This year’s conference was co-organized in collaboration with the Ministry of Environment and Climate Change, the Governor’s Office of Umnugovi province, the Information and Research Institute of Meteorology, and Institute of Geography and Geo-Ecology of Mongolian Academy of Science to discuss pressing environmental issues and seek practical solutions among diverse stakeholders. 

The conference served as a key preparatory platform for the upcoming 17th Conference of the Parties (COP17) to the United Nations Convention to Combat Desertification, which will be hosted by Mongolia in 2026 to discuss science-based solutions to pressing issues such as desertification, land degradation, sustainable water resource use, restoration, and climate change adaptation. Oyu Tolgoi will support the organization of the COP17 to be held in Mongolia next year. For more information: https://shorturl.at/bARU1.  

 

Innovation and Technology 

  • Oyu Tolgoi continues to integrate advanced technologies and artificial intelligence (AI) into its operations to predict equipment failures and prevent unplanned downtime. We are also steadily introducing electrification technologies as part of our long-term commitment to achieving net zero carbon emissions by 2050. These AI and electrification initiatives are improving operational productivity and reliability, representing first-of-its-kind projects not only in Mongolia but across the wider Rio Tinto Group. 
  • Smart Plant artificial intelligence project 

Since 2023, Oyu Tolgoi has been developing the “Smart Plant” system to enhance operational efficiency by automating early warnings detections and directing corrective actions to minimize downtime. Following two years of accelerated development, the system has been fully implemented at the production level in 2025. Currently installed across 29 critical assets, the system has prevented unexpected shutdowns worth an estimated USD12 million (around MNT 40 billion). 

The Smart Plant project leverages data from more than 5,000 sensors across the open pit, underground mine, and concentrator, using machine learning algorithms to detect anomalies in advance. An additional 2,600 new sensors will be further deployed across critical rotating assets.  

  • Advancing Toward Net Zero 

Oyu Tolgoi is piloting battery-electric haul trucks with battery swapping technology, enabling rapid replacement of fully charged batteries without stationary charging downtime. The trial involves eight 91-tonne trucks, thirteen 800 kWh batteries, and an automated battery exchange and charging station. These trucks are currently used for non-production purposes such as top-soil removal and rehabilitation. 

We are also integrating battery-electric equipment in our underground operations to reduce emissions and improve the working environment by eliminating noise, vibration, and diesel particulate matter. At full capacity, Oyu Tolgoi will produce enough copper each day to manufacture around 17,000 electric vehicles, contributing significantly to the world’s decarbonization efforts. 

Other Highlights 

  • The Governor-General of the Commonwealth of Australia, H.E. the Honourable Samantha Mostyn and her spouse H.E. Mr. Simeon Beckett visited the Oyu Tolgoi underground mine as part the State Visit to Mongolia. Oyu Tolgoi CEO Deirdré Lingenfelder welcomed the honourable guests and provided an overview of the underground mine operations.  Governor-General Samantha Mostyn emphasized, “ Oyu Tolgoi is one of the greatest examples of a partnership not only between nations, but also between the Mongolian people, and many other engineering and mining companies”. For more information, please visit the following link: https://shorturl.at/0pcQN.   
  • Initiated by Sean Hinton, Chairman of the Oyu Tolgoi Board of Directors, The “Blue Sky Dialogue” series was co-organized by Oyu Tolgoi, Rio Tino, the Economic Development Center, and the Business Council of Mongolia under the theme “Unlocking Mongolia’s Digital Opportunity”. This year’s dialogue addressed a wide range of topics, including how technological innovation can strengthen mining and other traditional industries, the creation of a supportive environment for an innovative ecosystem, opportunities arising from digital transformation in global markets, and the role of start-ups. The forum convened government and private sector representatives, together with national and international partners as well as investment funds. For more information, please visit this link: https://shorturl.at/iiABr.   
  • Oyu Tolgoi CEO Deirdré Lingenfelder participated as a guest speaker in the panel discussion “Fostering Women’s Entrepreneurial Leadership” held under the framework of the World Women Entrepreneurs’ Forum, organized under the auspices of the President of Mongolia, U.Khurelsukh. In her remarks, she emphasized that “When women lead, they bring transformation to their industries and help build a more inclusive and compassionate future. Gender-diverse companies are proven to be more resilient, more innovative, and deliver stronger results. That’s why we’re committed to setting bold targets — from aiming for 50% women in our workforce, to investing in education and inclusive policies.” For more information, please visit this link: https://shorturl.at/hn4VN.  
  • Oyu Tolgoi participated as a sponsor for the third consecutive year in the Mining Week & MinePro 2025 held under the theme “A New Chapter in the Mineral Resources Sector: An Era of Responsible Mining”. During this year’s exhibition and conference, we showcased our initiatives in advanced technology, safety, environmental protection, procurement, and local employment support, as well as its key partnership initiatives. We also featured products and services from 20 of our suppliers and organized an information session on our “100 Million Trees for the Future” programme. This year’s event brought together over 350 domestic and international companies and around 20,000 participants, providing a platform to share best practices and strengthen partnerships across the mining industry. For more information, please visit the following link: https://shorturl.at/ZZuB2.    

Production Report  

  • Prioritizing safety, we achieved our goal by maintaining an All-Injury Frequency Rate below 0.23 per 200,000 person-hours, with a recorded rate of 0.16.  
  • 97.5% of the total workforce is Mongolian, and 24.1% of all employees are women.  
  • Higher production was driven by the continued underground ramp-up in 2025, with growth remaining strong in the second half. 
  • Significant milestone was achieved with the Primary Crusher 2 in underground mine and the 5th Ball Mill as part of the Concentrator Conversion, which has been accepted by the State Commission. These facilities are critical components of the mine’s operations, with the Second Primary Crusher being the final major infrastructure element within the underground mine development. 
  • Although a planned shutdown and major maintenance of the concentrator plant took place in September with 958 workers across 41 teams involved, the copper production achieved a record high during Q3. Initially, the maintenance was scheduled for October; however, due to adjustments in the production plan, it was brought forward to September. 
  • In August, the first ore drawbell in the northern section of Panel 2 of the underground mine was successfully blasted, nine months ahead of schedule.  
  • In November 2025, Oyu Tolgoi is required to submit its 2026 Mine Plan to the relevant authorities. As the timing for transferring the special license held by “Entrée” LLC remains uncertain, the plan is currently being developed without including the joint license area.
    If the license is not transferred within the given timeframe, Panel 1 will be excluded from Oyu Tolgoi’s 2026 Mine Plan. Moreover, extracting the southern section of Panel 2 ahead of Panel 1 would conflict with the sequencing of tunneling, development, and extraction outlined in the Feasibility Study 2023 (FS23) submitted to the Mineral Resources Professional Council. Further study will be required to reschedule and redesign the mine sequence if and when the Licences are transferred in the future, which is likely to require a new Feasibility Study. Therefore, if the decision to transfer the licence is further delayed, it poses a serious risk to the timeline of resuming and advancing development of the Panel 1 as well as financing and mine operations.  

 

Production table 

   2024 Q3  2024 Q4  2024  2025 Q1  2025 Q2  2025 H2  2025 Q3 
Ore Treated – consolidated (‘000 tonnes) 

  

  

 8,872.83  11,024.59  41,037.31  9,903.25  10,034.20  19,937.45  10,152.87 
Ore Treated – OP (‘000 tonnes)  7,352.01  8,880.98  34,527.65  7,468.92  6,836.49  14,305.41  7,282.38 
Ore Treated – UG (‘000 tonnes)  1,520.82  2,143.61  6,509.66  2,434.33  3,197.71  5,632.04  2,870.48 
Average mill head grades (consolidated):                      
Copper (%)  0.67  0.73  0.64  0.82  1.00  0.91  1.00 
Gold (g/t)  0.28  0.30  0.26  0.32  0.44  0.38  0.59 
Silver (g/t)  1.62  1.77  1.63  1.87  2.24  2.05  2.19 
Average mill head grades (Open pit) :                      
Copper (%)  0.39  0.43  0.39  0.42  0.47  0.44  0.54 
Gold (g/t)  0.22  0.24  0.21  0.25  0.37  0.30  0.58 
Silver (g/t)  0.97  1.08  1.11  1.02  1.07  1.04  1.13 
Average mill head grades (Underground) :                      
Copper (%)  2.05  1.96  1.94  2.03  2.13  2.09  2.16 
Gold (g/t)  0.61  0.55  0.56  0.55  0.61  0.58  0.63 
Silver (g/t)  4.76  4.59  4.40  4.47  4.75  4.63  4.87 
                       
Copper concentrates produced (‘000 tonnes)  231.96  307.31  993.97  303.38  381.56  684.94  394.91 
Average concentrates grade (% Cu)  21.57  21.59  21.63  21.50  22.75  22.19  22.60 
Production of metals in concentrates:                      
Copper in concentrates (‘000 tonnes)  50.03  66.33  214.99  65.21  86.80  152.02  89.25 
Gold in concentrates (‘000 ounces)  50.39  66.32  206.35  61.53  97.50  159.03  138.22 
Silver in concentrates (‘000 ounces)  324.58  425.91  1,423.93  402.73  549.59  952.32  559.35 
Metal recovery (%)                      
Copper  83.16%  82.15%  81.64%  82.98  86.36  84.85  86.69 
Gold   62.00%  61.13%  59.50%  62.06  68.38  65.75  70.56 
Silver  69.40%  67.53%  65.79%  69.69  75.76  73.02  77.06 
Sales of metals in concentrates:                      
Copper in concentrates (‘000 tonnes)  43.62  62.59  198.23  57.65  86.36                        144.02   80.94 
Gold in concentrates (‘000 ounces)  42.12  63.64  190.55  55.84  92.83  148.67  121.23 
Silver in concentrates (‘000 ounces)  272.98  382.26  1,243.64  338.39  514.03  852.42  474.17 
Open pit material mined (‘000 tonnes)  20,069.37  20,403.50  84,262.78  21,879.71  22,575.99  44,455.70  19,813.80 
Concentrate sold in DMT  216.07  301.82  962.70  281,971.67  403,951.58  685,923.25  372,659.63