turquoise hill resources ltd (TRQ) Key Developments
Turquoise Hill Resources Announces Production Results of Oyu Tolgoi for the Second Quarter and First Half of 2015
Jul 15 15
Turquoise Hill Resources announced production results of Oyu Tolgoi for the second quarter and first half of 2015. For the quarter, the company reported production of open pit material mined of 22,094,000 tonnes compared to 16,861 tonnes a year ago. Ore treated was 9,025 tonnes compared to 7,778,000 tonnes a year ago. Copper concentrates produced was 215.5 tonnes compared to 140,000 tonnes a year ago. Production of copper in concentrates was 55,300 tonnes compared to 36,200 tonnes a year ago. Production of gold in concentrates was 238,000 tonnes compared to 113,000 tonnes and production of silver in concentrates was 297,000 tonnes compared to 229,000 tonnes a year ago.
For the half year, the company reported production of open pit material mined of 44,093,000 tonnes compared to 38,482,000 produced in the same period last year. Ore treated was 16,536,000 tonnes against 13,338,000 tonnes reported last year. Copper concentrates produced was 346,400 tonnes against 242,900 tonnes reported last year. Production of copper in concentrates was 88,900 tonnes against 61,500 tonnes reported last year. Production of gold in concentrates was 324,000 tonnes against 179,000 tonnes reported last year. Production of silver in concentrates was 481,000 tonnes against 391,000 tonnes reported last year.
SouthGobi Resources and Turquoise Hill Resources Face Notice of Claim by Alexander Molyneux
Jul 2 15
SouthGobi Resources Ltd. announced that on June 30, it was served with a notice of civil claim filed by the company's former President and Chief Executive Officer, Alexander Molyneux, in the British Columbia Supreme Court. The claim relates to alleged breaches of Molyneux's employment agreement by the company. In addition to SouthGobi, Turquoise Hill Resources Ltd., the company's largest shareholder at the time of Molyneux's employment, was also named in the claim. Molyneux acted as SouthGobi's President from April 2009 and Chief Executive Officer from October 2009 until September 2012, when the company terminated his employment. Molyneux is seeking damages in excess of $1 million in his notice of claim. The company considers the action is without merit. SouthGobi said it intends to vigorously defend the action and reserves its right to pursue all legal rights and remedies available to it in connection with the proceedings.
Turquoise Hill Resources Ltd. Presents at RBC Capital Markets 2015 Global Mining & Materials Conference, Jun-16-2015
Jun 16 15
Turquoise Hill Resources Ltd. Presents at RBC Capital Markets 2015 Global Mining & Materials Conference, Jun-16-2015 . Venue: Boston, Massachusetts, United States. Speakers: Jeffery D. Tygesen, Chief Executive Officer, Non Independent Director and Chairman of Health, Safety & Environment Committee, Steeve Thibeault, Chief Financial Officer.
Rio Tinto finalizes Deal with Mongolia to Proceed with $5.4 Billion Oyu Tolgoi Mine Expansion
May 19 15
Rio Tinto has reached a deal with the Mongolian Government for its $5.4 billion expansion of the underground mine at Oyu Tolgoi. The company has signed the mine development and financing plan alongside the government and its subsidiary Turquoise Hill Resources, which owns most of the mine. Following the agreement, the focus will now be on finalizing project finance, a feasibility study, and obtaining all necessary permits for the mine development to go ahead. According to Rio Tinto, the construction of the first phase of the open-pit Oyu Tolgoi mine was completed on schedule in less than two years. The mine shipped one million tonnes of copper concentrate in March 2015.
Turquoise Hill Resources Ltd. - Special Call
May 18 15
To discuss details of the recently announced Oyu Tolgoi Underground Mine Development and Financing Plan