The Oyu Tolgoi mine (Mongolian: ÐžÑŽÑƒ Ð¢Ð¾Ð»Ð³Ð¾Ð¹, also Oyu Tolgoi, Turquoise Hill) is a combined open pit and underground mining project in Khanbogd sum within the south Gobi Desert, approximately 235 kilometres (146 mi) east of the Ã–mnÃ¶govi Province capital Dalanzadgad. The site was discovered in 2001 and is being developed as a joint venture between Turquoise Hill Resources (a majority owned subsidiary of Rio Tinto) with 66% ownership and the Government of Mongolia with 34%. The mine began construction as of 2010 and shipped its first batch of copper, all 5,800 tons of it, on July 9, 2013.
The Oyu Tolgoi mining project is the largest financial undertaking in Mongolia's history and is expected upon completion to account for more than 30% of the country's gross domestic product. Copper production is expected to reach 450,000 tonnes (500,000 short tons) annually. Financing for the project has come in part from the Rio Tinto Group and an investment agreement between Ivanhoe Mines and the government of Mongolia.