Oyu Tolgoi
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
Ni 43 101
Report standard:
Ni 43 101
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Rio Tinto Plc
Operator name:
Rio Tinto Plc
Extraction:
Underground
Extraction:
Underground
Country:
Mongolia
Country:
Mongolia
Region:
South Gobi
Region:
South Gobi
Geological province:
South Gobi Copper-Gold Belt
Geological province:
South Gobi Copper-Gold Belt
Interest conditions:
5.62% of the gold and silver produced from the Hugo North Extension and 4.26% from the Heruga deposits for per ounce cash payments equal to the lesser of $220 per ounce of gold and $5 per ounce of silver and the then-prevailing market price of gold and silver, respectively. Additionally, Royal Gold has a copper stream to purchase an amount equal to 0.42% of the copper produced from Hugo North Extension and Heruga for cash payments equal to the lesser of $0.50 per pound of copper and the then-prevailing market price of copper.
Description
As at 31 December 2025
Royal Gold stream on the Oyu Tolgoi underground mining complex located in the South Gobi Desert of Mongolia, operated by Rio Tinto plc. The Hugo North Extension and Heruga deposits are part of the Oyu Tolgoi mining complex. As per the FS, the Hugo North Extension Lift 1 outlines total recovered metals of 1,249,000 pounds of copper, 549,000 ounces of gold, and 3,836,000 ounces of silver over a 17-year mine life.
Stream interests
As at 31 December 2025 · exclusive
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Reserves & resources — detail
As at 31 December 2025
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