Thiess awarded Oyu Tolgoi Boxcut and Decline Project

Date
July 21, 2016
Categories
  • Project announcements
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Thiess, in joint venture with local contractor Khishig Arvin, secured the first underground decline project at the Rio Tinto-operated Oyu Tolgoi copper and gold project in Mongolia's southern Gobi desert.

 

The Thiess-led contract will generate total revenue of approximately $130 million, of which Thiess' share is 80 per cent.

CIMIC Executive Chairman and Chief Executive Officer Marcelino Fernández Verdes said: “This project is key to unlocking Oyu Tolgoi’s potential and is a great addition to Thiess’ diverse mining portfolio.”

Thiess Managing Director Michael Wright said: “The combination of our underground development expertise and ability to leverage our experienced Mongolia-based team provides us with the foundations for success.

“We are proud to facilitate the growth of a world-class copper and gold operation and deliver long-term solutions at Oyu Tolgoi. Building local capability is integral to our approach and, with the assistance of our partnership with Khishig Arvin, more than 90 per cent of our workforce will be Mongolian personnel.”

Commencing in July 2016, and scheduled for completion in 2020, work will include the construction of a box cut and development of twin declines, incorporating both a service and a conveyor tunnel.

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