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Oyu Tolgoi

Oyu Tolgoi — copper & gold project

royalgold

Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.

Project information

As at 31 December 2025

Type: Stream

Aggregation level: Asset

Status: Development

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: Rio Tinto Plc

Extraction: Underground

Country: Mongolia

Region: South Gobi

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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