Breaking News

Tweet TWEET

Turquoise Hill Resources Rejects Request From Mongolian

Turquoise Hill Resources Rejects Request From Mongolian Government to
Renegotiate Oyu Tolgoi Investment Agreement 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/15/12 -- Turquoise
Hill Resources (TSX:TRQ)(NYSE:TRQ)(NASDAQ:TRQ) today announced that
the company, together with Rio Tinto and Oyu Tolgoi LLC, have
rejected a request from the Government of Mongolia to renegotiate the
Oyu Tolgoi Investment Agreement. This comes following receipt of a
letter from the Minister of Mining requesting the parties renegotiate
the landmark agreement that was signed in October 2009 and became
fully effective in March 2010.  
As recently as October 2011, the Mongolian Government reaffirmed that
the Investment Agreement was signed in full compliance with all laws
and regulations of Mongolia. 
Kay Priestly, Chief Executive Officer of Turquoise Hill, said, "The
Investment Agreement is mutually beneficial for the Mongolian
Government and investors. We have invested nearly US$6 billion,
created thousands of jobs for Mongolians and are on the verge of
production based on the Investment Agreement, which provides a stable
legal framework and is a legally-binding document. The Investment
Agreement has been fundamental in building Mongolia's reputation as
an increasingly reliable and secure destination for foreign
investment."  
Oyu Tolgoi is one of the key drivers of Mongolia's economic growth
and the economic and social benefits from the mine will be
fundamental contributors to a successful Mongolian future.  
About Turquoise Hill Resources  
Turquoise Hill Resources (TSX:TRQ)(NYSE:TRQ)(NASDAQ:TRQ), formerly
Ivanhoe Mines, is an international mining company focused on copper,
gold and coal mines in the Asia Pacific region. The company's primary
operation is its 66% interest in the Oyu Tolgoi copper-gold-silver
mine development in southern Mongolia, which is expected to begin
commercial production in the first half of 2013. Other assets include
a 58% interest in Mongolian coal miner SouthGobi Resources
(TSX:SGQ)(HKSE:1878); a 59% interest in copper-gold miner Ivanhoe
Australia (ASX:IVA)(TSX:IVA); and a 50% interest in Altynalmas Gold,
a private company developing the Kyzyl Gold Project in Kazakhstan. 
Follow us on Twitter @TurquoiseHillRe 
Forward-looking statements  
Certain statements made herein, including statements relating to
matters that are not historical facts and statements of our beliefs,
intentions and expectations about developments, results and events
which will or may occur in the future, constitute "forward-looking
information" within the meaning of applicable Canadian securities
legislation and "forward-looking statements" within the meaning of
the "safe harbour" provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking information and
statements are typically identified by words such as "anticipate",
"could", "should", "expect", "seek", "may", "intend", "likely",
"plan", "estimate", "will", "believe" and similar expressions
suggesting future outcomes or statements regarding an outlook.  
All such forward-looking information and statements are based on
certain assumptions and analyses made by issuer's management in light
of their experience and perception of historical trends, current
conditions and expected future developments, as well as other factors
management believes are appropriate in the circumstances. These
statements, however, are subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking information or statements. Important factors that
could cause actual results to differ from these forward-looking
statements include those described under the heading "Risk Factors"
included in the final prospectus or in the issuer's Annual
Information Form, both filed on SEDAR and EDGAR. The reader is
cautioned not to place undue reliance on forward-looking information
or statements. 
Contacts:
Investors: Turquoise Hill Resources Ltd.
Jason Combes
+1 604 648 3920
jason.combes@turquoisehill.com 
Media: Turquoise Hill Resources Ltd.
Tony Shaffer
+1 604 648 3934
tony.shaffer@turquoisehill.com
www.turquoisehill.com
 
 
Press spacebar to pause and continue. Press esc to stop.