Turquoise Hill Says Mine Study Finalized Amid Tax Dispute
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Turquoise Hill Resources Ltd. completed a feasibility study of a $4.9 billion expansion of its Oyu Tolgoi mine in Mongolia after it said the government made a “welcome” reduction in taxes on the project.
The study is now in the hands of the board of the directors of Oyu Tolgoi LLC, the mine’s operating company, Vancouver-based Turquoise Hill said today in a statement. Separately, Turquoise Hill said Mongolia’s Tax Dispute Resolution Council lowered a $127 million tax claim against Oyu Tolgoi to about $30 million for the copper and gold mine.