📋 Tender Overview
Location: Mongolia
Project number: 55780
Business sector: Natural resources
Notice type: Private
EBRD Finance Summary: USD 100,000,000.00
Total Project Cost: USD 350,000,000.00
Project Description
The provision of an unsecured revolving loan of up to US$ 100 million for the development of Oyu Tolgoi copper mine.
Project Objectives
Liquidity support for the ramp up and completion of the Oyu Tolgoi underground mine.
Transition Impact
ETI score: 63
The project will support the following transition qualities:
Resilient: The proposed transaction will aim to address OT's working capital and liquidity needs, allowing the Company to stay on track with the development of its underground mine. Once completed, OT is expected to be the fourth largest copper mine in the world at full capacity. Copper is a critical mineral for the ongoing green transition; copper demand is expected to double to about 50 million tonnes annually by 2035 as the world transitions to cleaner energy. Timely development of the project will help secure copper supply globally and strengthen Mongolia's competitive position as a leading producer.
Green: The Bank's financing will free up cash for the Company to implement its ongoing green investment plan, including small scale solar project, underground and surface operations electrification, and carbon credit market development. OT aspires to achieve net zero carbon emission by 2050 and aims to reduce its current carbon emissions by 30% by 2030. It has a well-defined pipeline of initiatives that are aligned with RT's emission reduction commitments.
