Rio/Turquoise Hill's Oyu Tolgoi mine is pretty profitable from...

Rio/Turquoise Hill's Oyu Tolgoi mine is pretty profitable from open cut.

Oyu Tolgoi's existing open-pit section produced 41,935 tons of copper in the July-September quarter, up 16% from a year earlier. It also generated 130,799 ounces of gold during the period, three and a half times as much as a year before.

Boosted by a jump in copper prices, Turquoise Hill generated a profit of $473.9 million on revenue of $1.47 billion over the first nine months of 2021.

Writing off Mongolia govt's debt of 2billion allowing them to proceed with the underground expansion will generate this:

Oyu Tolgoi is Rio Tinto’s main copper growth project. Once completed, the mine’s underground section will lift production from 125,000–150,000 tonnes in 2019 to 560,000 tonnes a year of the metal used in construction, electric vehicles and renewable energy. The figure, corresponding to peak output, will be achieved by 2025 at the earliest, Rio has said.

By 2030, the operation would be the world’s fourth largest copper mine, according to Rio Tinto. The mine is the country’s biggest source of foreign direct investment, having created thousands of jobs and generating almost $3 billion of taxes and fee revenue over the past decade.

These projects are massive for not only global major mining companies, but for whole nation's like Mongolia. Covid, budget blowouts and production delays upset the Mongolian govt, but addressing these problems should assist Xanadu and any major partner in future.

Will all the roadshows lately there must be suitors in the meeting rooms of Xanadu as we speak.

https://www.mining.com/rio-tinto-to-write-off-2-3bn-oyu-tolgoi-loan-to-mongolia/