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ENTRÉE RESOURCES ANNOUNCES FISCAL YEAR 2023 RESULTS and REVIEWS CORPORATE HIGHLIGHTS
ENTRÉE RESOURCES ANNOUNCES FISCAL YEAR 2023 RESULTS and REVIEWS CORPORATE HIGHLIGHTS ...
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[{"type":"text","content":"\n \n \n \n ENTRÉE RESOURCES ANNOUNCES FISCAL YEAR 2023 RESULTS and REVIEWS CORPORATE HIGHLIGHTS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 8, 2024\n \n \n /CNW/ - Entrée Resources Ltd. (TSX: ETG) (OTCQB: ERLFF) – the \"\n \n Company\n \n \" or \"\n \n Entrée\n \n \") has today filed its annual operational and financial results for the year ended\n \n December 31, 2023\n \n . All numbers are in U.S. dollars unless otherwise noted.\n \n \n \n 2023 HIGHLIGHTS\n \n \n \n \n Oyu Tolgoi Underground Development Update\n \n \n \n The Oyu Tolgoi project in\n \n Mongolia\n \n includes two separate land holdings: the Oyu Tolgoi mining licence, which is held by Oyu Tolgoi LLC (\"\n \n OTLLC\n \n \") and the Entrée/Oyu Tolgoi JV Property, which is a joint venture partnership between Entrée and OTLLC. Rio Tinto International Holdings Ltd. (\"\n \n Rio Tinto\n \n \") owns 66% of OTLLC and is the manager of operations at Oyu Tolgoi.\n \n \n \n Ramp up of the Oyu Tolgoi Lift 1 underground mine, which incorporates the development of three panels (Panels 0, 1, and 2), continued during 2023. Oyu Tolgoi is set to become the fourth largest copper mine in the world by 2030, with the operation expected to deliver average mined copper production of ~500 ktpa between 2028 and 2036.\n \n \n \n \n On\n \n March 13, 2023\n \n , Rio Tinto announced the commencement of underground production from Oyu Tolgoi Lift 1 Panel 0 on the Oyu Tolgoi mining licence. As at\n \n December 31, 2023\n \n , 86 Lift 1 Panel 0 draw bells had been opened, including 67 draw bells during 2023.\n \n \n \n \n Construction of conveyor to surface works continued to plan and was approaching 88% completion at the end of the year. Commissioning is expected in the second half 2024. Construction works for the concentrator conversion also remains on schedule. Commissioning is expected to be progressively completed between the fourth quarter 2024 through to the second quarter 2025. Constructi...