Turquoise Hill Resources Ltd. reported production results of Oyu Tolgoi for the fourth quarter and full of 2019. For the quarter, the company produced 28,122,000 tonnes of Open pit material mined against 22,863,000 tonnes a year ago. Ore treated was 11,088,000 tonnes against 9,361,000 tonnes a year ago. Concentrates produced was 152,600 tonnes against 189,000 tonnes a year ago. Production of copper was 32,900 tonnes against 41,500 tonnes a year ago. Production of gold was 24,300 tonnes against 117,000 tonnes a year ago. Production of silver was 190,000 tonnes against 238,000 tonnes a year ago.


For the full year, the company reported total open pit material mined of 101,316,000 tonnes against 91,310,000 tonnes a year ago. Ore treated was 40,777,000 tonnes against 38,738,000 tonnes a year ago. Concentrates produced was 674,600 tonnes against 724,900 tonnes a year ago. Production of copper was 146,300 tonnes against 159,100 tonnes a year ago. Production of gold was 241,800 tonnes against 285,000 tonnes a year ago. Production of silver was 866,600 tonnes against 914,000 tonnes a year ago.

Oyu Tolgoi is expected to produce 140,000 to 170,000 tonnes of copper and 120,000 to 150,000 ounces of gold in concentrates in 2020 from both the open pit and the beginning of the underground development material being processed. Although the mid-point copper production range guidance is higher in 2020 versus the 2019 guidance, a lower gold production year is expected for 2020. This is due to the need to mine through lower grade material on the periphery of the South West pit as Phase 4b sinks towards the gold and copper grades in the bottom of the pit. It is anticipated that the higher grade ore will be accessed in 2021, resulting in a significant increase in gold production in 2021. Mill throughput for 2020 is expected to be approximately 40 million tonnes.

Production in 2021 is expected to increase to a range of 170,000 to 200,000 tonnes of copper, and 450,000 to 500,000 ounces of gold, as the company transition to the higher grade ore in the bottom of the pit and continue to increase the amount of underground development material processed.