Turquoise Hill announces financial results and review of operations for the first quarter of 2021 morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
Turquoise Hill announces financial results and review of operations for the first quarter of 2021
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MONTREAL, May 12, 2021 /PRNewswire/ - Turquoise Hill Resources Ltd. ( Turquoise Hill or the Company ) today announced its financial results for the period ended March 31, 2021. All figures are in U.S. dollars unless otherwise stated. Oyu Tolgoi had an exceptionally strong first quarter with production of 45,449 tonnes of copper and 145,656 ounces of gold. Our strong operational performance combined with rising copper and gold prices generated revenue of $526.5 million, a 303% increase over the same quarter last year. stated Steve Thibault, Interim Chief Executive Officer of Turquoise Hill Resources.
Turquoise Hill Provides Update on Oyu Tolgoi LLC International Tax Arbitration
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MONTREAL, May 3, 2021 /PRNewswire/ - Turquoise Hill Resources Ltd. ( Turquoise Hill or the Company ) today announced that the Government of Mongolia ( GOM ) filed its statement of defence together with a counterclaim ( GOM Defence and Counterclaim ) in relation to a previously-disclosed international tax arbitration proceeding brought by Oyu Tolgoi LLC ( OT ) against the GOM in February 2020. Turquoise Hill is not a party to that arbitration, but the Company understands that the GOM Defence and Counterclaim includes a request that the arbitral tribunal add both the Company and a member of the Rio Tinto Group as parties to the tax arbitration. The Company understands that the principal thrust of the GoM Defence and Counterclaim is to seek the rejection of OT s tax claims in their entirety. As part of the counterclaim, the GoM makes assertions sur
Turquoise Hill announces first quarter 2021 production and Oyu Tolgoi mine update prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Turquoise Hill Resources and Rio Tinto Reach Binding Agreement on Funding Plan for Oyu Tolgoi
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MONTREAL, April 9, 2021 /PRNewswire/ - Turquoise Hill Resources Ltd. ( Turquoise Hill or the Company ) and Rio Tinto today announced that they have entered into a binding Heads of Agreement (HoA) to provide an updated funding plan (the Funding Plan ) for the completion of the Oyu Tolgoi LLC (OT) underground project in Mongolia. The Funding Plan is designed to address the estimated remaining funding requirement of approximately US$2.3 billion[1] and replaces the non-binding Memorandum of Understanding that Rio Tinto and Turquoise Hill previously entered into on September 9, 2020.