In the middle of the Gobi Desert, on the vast ocher expanse traversed by dark veins, a veritable small industrial city arises. Sheds of blue sheet metal, power lines, straight roads, and a huge abyss: the gold and copper mine of Oyou Tolgoï, the biggest investment in the history of Mongolia. The country’s hopes for economic development are largely based on the exploitation of its huge copper deposits, two-thirds owned by the Australian-British giant Rio Tinto, and the rest by Ulaanbaatar.
This March 13, the ceremony is invisible from the outside: it takes place at a depth of 1,265 meters, in the bowels of the Earth. Only the pressure on the eardrums makes it possible to realize the depth traveled. In a few minutes, an elevator capable of transporting three hundred people opens its doors on a network of large galleries punctuated by imposing machines. It was in this underground cathedral the size of Manhattan that the Prime Minister, Luvsannamsrain Oyun-Erdene, came to deliver his speech. Addressing the CEO of Rio Tinto, Jakob Stausholm, also present for the occasion, he launches, enthusiastic: “Dear Jakob, I would like to thank you on behalf of all Mongolians! »
Smiles, congratulations, handshakes. The exploitation of the underground mine of Oyou Tolgoï will finally begin, and the vein of copper buried so deep will make profitable – perhaps – the more than 15 billion dollars (13.6 billion euros) of investments, swallowed up by the project since 2009. After many delays, due to technical difficulties and political deadlocks against a backdrop of heated debates over the distribution of profits from the mine, there is great relief for both parties. A crucial step has just been taken.
Forgotten by growth
Mongolia hopes that Oyou Tolgoï – the “turquoise hill”, name of the mine and the joint venture created to exploit it – will allow the country to double its gross domestic product (GDP) per capita, by 2030. It it is also about convincing foreign investors of the country’s reliability. “The sustainable management of this project is very important for Mongolia, as it will help attract more investors”insists the Prime Minister, during an interview granted to the World. He must fulfill promises made for too long: because, despite a particularly rich subsoil (coal, copper, fluorine, rare earths, uranium), the Mongols remain poor.
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