Project detail - OYU TOLGOI LLC


Status: Approved investment
Back to map

Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

In case of questions

In case of questions, please contact us at


The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

The Oyu Tolgoi mining project is one of the largest copper-gold mines under development in the world. When the project achieves full capacity, it will produce about 600,000 tonnes of copper each year, representing around 3 percent of 2014 global refined copper production.

What is our funding objective?

FMO provided USD 50 million (USD 25 million under the IFC B-loan and USD 25 million under the EBRD B-Loan) as part of the USD 4.4 billion senior secured debt package to support the development of the underground expansion. With the construction of the open pit and associated facilities (Phase I) now complete, Phase II of the project will focus on the continued operation of the open pit mine and the undertaking of a major expansion which includes a panel cave underground mine as well as expansion or addition of infrastructure to support combined open pit and underground mine production.

Why do we fund this investment?

The project is the largest single investment in the history of Mongolia (a lower middle income country) and according to estimations at the time full production is reached the mine will add up to one-third of Mongolia’s GDP. Over the past five years, already USD 3.7 billion was spent on national Mongolian suppliers and USD 1.0 billion in tax was paid to the Mongolian government (compared to GDP of just about USD 12 billion in 2014). Oyu Tolgoi is committed to employing 90 percent Mongolian workforce (boosting employment in a country with just 2.8 million people) and is investing USD 125 million towards Mongolia’s largest training and skills transfer program.

More investments

Date Total FMO financing
12/15/2015 USD 25.00 MLN
Website customer/investment
Infrastructure, Manufacturing and Services
Effective date
Total FMO financing
USD 25.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)