About Us

Entrée Resources Ltd. ("Entrée" or the Company") is a Canadian mining company with a unique carried 20% or 30% joint venture interest in an integral part of the Oyu Tolgoi copper-gold mining project in Mongolia.

The Oyu Tolgoi project includes two separate land holdings: the Oyu Tolgoi mining licence, which is held by Oyu Tolgoi LLC ("OTLLC") and the Entrée/Oyu Tolgoi joint venture property (“JV Property”), which is a partnership between Entrée and OTLLC.

The Entrée/Oyu Tolgoi JV Property comprises the eastern portion of the Shivee Tolgoi mining licence, and all of the Javhlant mining licence, and surrounds most of the Oyu Tolgoi mining licence. The Entrée/Oyu Tolgoi JV Property includes Lift 1 and Lift 2 of the Hugo North Extension copper-gold deposit and the majority of the Heruga copper-gold-molybdenum deposit. The Entrée/Oyu Tolgoi JV Property also includes an extensive, highly prospective exploration land package, which covers almost 10 kilometers strike length to the north and about 5 kilometres strike length to the south of the current 12-kilometre long Oyu Tolgoi trend of world class porphyry deposits.

Entrée has a 20% participating interest in mineralization extracted below 560 metres elevation, which includes all of the Hugo North Extension and Heruga deposits, and a 30% participating interest in mineralization identified above 560 metres elevation.

The Oyu Tolgoi project is widely recognised as one of the world’s largest and most important new copper-gold mines, with more than 80% of the project’s value residing at depth, where it is planned to be mined using underground methods. Based on current known resources, the Oyu Tolgoi project could potentially be producing copper and gold for more than 95 years. Rio Tinto is the operator of the existing open pit mine on the Oyu Tolgoi mining licence and is currently managing the construction of the Oyu Tolgoi Lift 1 underground block cave on both the Oyu Tolgoi mining licence and the Entrée/Oyu Tolgoi JV Property. In addition to its interest in the Entrée/Oyu Tolgoi JV Property, Entrée holds a 100% interest in Shivee West, the western portion of the Shivee Tolgoi mining licence, which is immediately adjacent to the Oyu Tolgoi mining licence.

On January 15, 2018, Entrée released the results of an updated Technical Report on its interest in the Entrée/Oyu Tolgoi JV Property. The Technical Report discusses two alternative development scenarios, an updated reserve case ("2018 Reserve Case") and a Life-of-Mine Preliminary Economic Assessment ("2018 PEA"). The Technical Report is available on Sedar at www.sedar.com and this website here. Both the 2018 Reserve Case and the 2018 PEA are based on information reported within the 2016 Oyu Tolgoi Feasibility Study ("OTFS16") completed by OTLLC on the Oyu Tolgoi project. Subsequent to the completion of OTFS16 and the 2018 Technical Report, Rio Tinto advised that more detailed geotechnical information and different ground conditions have required a review of the mine design and the development schedule. A Definitive Estimate is expected to be delivered in the second half of 2020, reflecting the preferred mine design approach and the impact on overall cost and schedule for the underground development.

Under the terms of the joint venture ("Entrée/Oyu Tolgoi JV") with OTLLC, only capital costs incurred on the Entrée/Oyu Tolgoi JV Property may be allocated to Entrée, and Entrée has elected to have OTLLC debt finance its share of costs, including capital costs, with interest accruing at OTLLC’s actual cost of capital or prime plus 2%, whichever is less, at the date of advance. Any repayment of debt comes from 90% of monthly available cash flow resulting from the sale of Entrée’s share of products.  Entrée recognizes capital costs incurred by OTLLC on the Oyu Tolgoi mining licence that are necessary or used for Entrée/Oyu Tolgoi JV operations as a usage charge made to Entrée’s operating account when Entrée/Oyu Tolgoi JV mine production is actually milled. The joint venture agreement also provides for Entrée to take its share of products in kind. Entrée’s interest therefore has many of the characteristics of a royalty, while still providing the benefits of a producer.

Entrée also holds royalty interests in Peru and Australia.

Entrée Resources is led by an experienced team of mining, corporate finance and corporate governance professionals. The Company’s high-quality assets, strong financial position and world class operating partners position Entrée for long term sustainable success.