Oyu Tolgoi reaches milestone with shaft completion, maintains force majeure

Rio Tinto subsidiary Turquoise Hill said that Oyu Tolgoi, a copper and gold mine in the southern Gobi desert, in Mongolia, has marked an early development milestone at the Hugo North Lift 1, with the completion of the sinking of Shaft 2, including reaching final depth, shaft bottom mass excavation and concrete floor installation. Turquoise Hill CEO Jeff Tygesen on Monday noted that the completion of the Shaft 2 sinking is the first of several key milestones that will lead to the production of copper and gold from Hugo North Lift 1.