AKIPRESS.COM - Turquoise Hill Resources announced fourth quarter 2015 production for Oyu Tolgoi, according to FinanzNachrichten.

Jeff Tygesen, Turquoise Hill Chief Executive Officer, said: "Oyu Tolgoi continued to operate at record levels for the fourth quarter. Productivity improvements in the concentrator implemented throughout the year led to throughput for the quarter exceeding nameplate capacity. Thanks to the focus and dedication of Oyu Tolgoi's workforce, we beat our 2015 copper production guidance and met our gold target."

For Q4 2015, throughput increased 8.5% over Q3 2015 reaching an all-time high. Copper production for the quarter increased 2.3% over Q3 2015 due to higher volumes. As a result of mining higher grades from Phase 2 and higher volumes, Q4 2015 gold production increased 68.3% over Q3 2015.

Copper production for 2015 of 202,200 tons exceeded the Company's guidance of 175,000 to 195,000 tons and annual gold production of 653,000 ounces met 2015 guidance of 600,000 to 700,000 ounces. For 2015, Oyu Tolgoi's second full year of production, the mine operated at record levels. Compared to 2014 results, 2015 mined production increased 19.3%, concentrator throughput increased 23.9%, concentrate production increased 39.9%, copper production increased 36.3% and gold production increased 10.9%.

Oyu Tolgoi is expected to produce 175,000 to 195,000 tons of copper and 210,000 to 260,000 ounces of gold in concentrates for 2016. The majority of 2016 gold production is expected in the first half of the year.