Turquoise Hill updates Oyu Tolgoi mine, Q1 performance

Underground development at the Oyu Tolgoi copper mine in Mongolia is progressing as planned, says operator Turquoise Hill Resources (TSX: TRQ). The first sustainable production from the project is expected in 2022. Production is to ramp up to 580,000 tonnes of payable copper and 360,000 grams of gold annually by 2029.

Underground proven and probable reserves total 450 million tonnes grading 1.52% copper, 0.31 g/t gold and 3.2 g/t silver in concentrates. There are 6.8 million contained tonnes of copper in reserves.

Mining moved deeper into the open pit in the first quarter of 2021 and the head grade increased. Mill throughput at 9.8 million tonnes was 10% lower than a year earlier. During the first quarter, Turquoise Hill produced 45,449 tonnes of copper (29% more than in last year's first quarter) and 145,656 oz. of gold (an increase of 457%). The open pit began production in 2012.

More information is available at the company’s website www.TurquoiseHill.com.