A number of substantive issues have recently been raised by the Government of Mongolia, including the implementation of the Investment and Shareholder Agreements and project finance. Rio Tinto will continue to engage with the Government of Mongolia and other stakeholders to ensure the continued implementation of the Investment and Shareholder Agreements in their current form, and to support the continued development of Oyu Tolgoi for the benefit of all parties
Subject to the resolution of these issues, first commercial production from Oyu Tolgoi is scheduled to commence by the end of June 2013.
Oyu Tolgoi has entered into sales contracts for 75 per cent of concentrate production from the project on international terms. In addition to the signed contracts, Oyu Tolgoi has committed in principle to sell up to 25 per cent of concentrate production on international terms to smelters in Inner Mongolia for the first ten years, subject to the conclusion of detailed sales contracts.
2013 production guidance
In 2013, Rio Tinto share of mined and refined copper production is expected to be approximately 665,000 tonnes and 305,000 tonnes, respectively.