Ore extraction at Mongolia’s Oyu Tolgoi copper mine is set to increase by 50% year-on-year in 2025, leading to a significant rise in copper concentrate production. Located in the South Gobi Desert, the mine is majority-owned by Rio Tinto and is expected to become the world’s fourth-largest copper producer by 2030, with an average annual output of 500,000 tonnes from 2028 to 203.
Oyu Tolgoi is projected to produce 500,000 tonnes of copper annually
The mine, which includes both open-pit and underground operations, plays a critical role in Mongolia’s economy. Between 2024 and 2024, Oyu Tolgoi accounted for approximately 17% of the country’s total export revenue and 44% of its foreign exchange reserves. The site has also been a key driver of employment, with over 20,000 workers—97% of whom are Mongolian—currently employed at the facility.
Oyu Tolgoi contributes significantly to Mongolia’s economy
President Khurelsukh Ukhnaa recently visited the site and praised the workforce for developing world-class mining infrastructure at a depth of 1.3 kilometers. The underground mine, which began production in 2022, represents a $7 billion investment by Rio Tinto and unlocks one of the most valuable copper resources globally.
The copper produced at Oyu Tolgoi is critical for renewable energy technologies and electric vehicles (EVs). At its peak, the mine will generate enough copper daily to manufacture approximately 17,000 EVs. As global demand for copper continues to rise due to energy transition efforts, Oyu Tolgoi is positioned as a key supplier.
