Copper mining in Mongolia

Entrée Resources Reports Updated Feasibility Study for its Interest in the Entrée/Oyu Tolgoi Joint Venture Property

Retrieved on: 
Tuesday, June 15, 2021
Ömnögovi Province, East Asia, Oyu Tolgoi mine, Asia, Mining, MONGOLIA, Turquoise Hill Resources, Copper mining in Mongolia

For the underground block cave, all Indicated Mineral Resources within the cave outline were converted to Probable Mineral Reserves.

Key Points: 
  • For the underground block cave, all Indicated Mineral Resources within the cave outline were converted to Probable Mineral Reserves.
  • OTLLC has a participating interest of 80%, and Entre has a participating interest of 20%.
  • Entre Resources Ltd. is a well-funded Canadian mining company with a unique carried joint venture interest on a significant portion of one of the world's largest copper-gold projects the Oyu Tolgoi project in Mongolia.
  • Entre has a 20% or 30% carried participating interest in the Entre/Oyu Tolgoi JV, depending on the depth of mineralization.

Entrée Resources Announces 2021 AGM Results

Retrieved on: 
Thursday, June 10, 2021
Companies, Mining, Ömnögovi Province, Copper mining in Mongolia, Turquoise Hill Resources, Oyu Tolgoi mine, Rio Tinto, Sandstorm Gold, OT, Windfall tax

Shareholders approved the Company's Deferred Share Unit Plan and ratified grants made during the financial year ended December 31, 2020.

Key Points: 
  • Shareholders approved the Company's Deferred Share Unit Plan and ratified grants made during the financial year ended December 31, 2020.
  • Entre Resources Ltd. is a well-funded Canadian mining company with a unique carried joint venture interest on a significant portion of one of the world's largest copper-gold projects the Oyu Tolgoi project in Mongolia.
  • Entre has a 20% or 30% carried participating interest in the Entre/Oyu Tolgoi joint venture, depending on the depth of mineralization.
  • Sandstorm Gold, Rio Tinto and Turquoise Hill Resources are major shareholders of Entre, holding approximately 24%, 9% and 8% of the shares of the Company, respectively.

Entrée Resources Welcomes Announcement of Updated Funding Plan to Complete Oyu Tolgoi Underground Construction

Retrieved on: 
Friday, April 9, 2021
Mining, Companies, Ömnögovi Province, Copper mining in Mongolia, Turquoise Hill Resources, Oyu Tolgoi mine, Rio Tinto, OT, Khanbumbat Airport

(TSX: ETG) (OTCQB: ERLFF) the "Company"or "Entre")reports that on April 9, 2021, Turquoise Hill Resources Ltd. ("Turquoise Hill"), announced they have reached a binding agreement ("Heads of Agreement") with Rio Tinto on a funding plan to complete the construction of Lift 1 of the Oyu Tolgoi underground project ("Oyu Tolgoi") in Mongolia.

Key Points: 
  • (TSX: ETG) (OTCQB: ERLFF) the "Company"or "Entre")reports that on April 9, 2021, Turquoise Hill Resources Ltd. ("Turquoise Hill"), announced they have reached a binding agreement ("Heads of Agreement") with Rio Tinto on a funding plan to complete the construction of Lift 1 of the Oyu Tolgoi underground project ("Oyu Tolgoi") in Mongolia.
  • The Hugo North Extension deposit on the Entre/Oyu Tolgoi JV Property is an integral part of the Lift 1 mine plan.
  • Stephen Scott, Entre's President & CEO commented, "This is great news for all Oyu Tolgoi project stakeholders, including Entre.
  • Ensuring remaining necessary capital funding is in place eliminates a key Oyu Tolgoi underground project execution risk.

Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi

Retrieved on: 
Friday, April 9, 2021
Natural Resources, Other Natural Resources, Mining, Minerals, Companies, Mining, Copper mining in Mongolia, Turquoise Hill Resources, Ömnögovi Province, Oyu Tolgoi mine, Rio Tinto, TRQ, Windfall tax

Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the Funding Plan) for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia.

Key Points: 
  • Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the Funding Plan) for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia.
  • We are pleased to have reached a constructive and equitable agreement with Rio Tinto to fund the Oyu Tolgoi underground development, stated Steve Thibeault, Interim Chief Executive Officer of Turquoise Hill.
  • Rio Tinto currently beneficially owns 102,196,643 common shares of TRQ, representing approximately 50.8% of the issued and outstanding common shares of TRQ.
  • Except in connection with any such equity offering, Rio Tinto has no present intention of acquiring additional securities of TRQ.

Oyu Tolgoi declares force majeure due to delayed copper concentrate shipments to Chinese customers

Retrieved on: 
Tuesday, March 30, 2021
Ömnögovi Province, East Asia, Asia, Continents, Oyu Tolgoi mine, Turquoise Hill Resources, MONGOLIA, Ulaanbaatar, Khanbumbat Airport, Copper mining in Mongolia

MONTREAL, March 30, 2021 /PRNewswire/ - Turquoise Hill Resources Ltd. ("Turquoise Hill" of the "Company") today announced that Oyu Tolgoi LLC ("Oyu Tolgoi") has declared force majeure in connection with customer contracts for concentrate as a result of Oyu Tolgoi shipments of concentrate to its Chinese customers being suspended due to COVID-19 health and safety precautions related to Chinese-Mongolian border crossings.

Key Points: 
  • MONTREAL, March 30, 2021 /PRNewswire/ - Turquoise Hill Resources Ltd. ("Turquoise Hill" of the "Company") today announced that Oyu Tolgoi LLC ("Oyu Tolgoi") has declared force majeure in connection with customer contracts for concentrate as a result of Oyu Tolgoi shipments of concentrate to its Chinese customers being suspended due to COVID-19 health and safety precautions related to Chinese-Mongolian border crossings.
  • Oyu Tolgoi continues to support the Government of Mongolia's efforts to work with Chinese officials to resume the shipments of copper concentrate to its Chinese customers as soon as possible.
  • Furthermore, ongoing travel restrictions have had implications related to people movement from Ulaanbaatar to site and Oyu Tolgoi is therefore developing contingency plans to mitigate any associated risks.
  • Additionally, although Oyu Tolgoi has achieved commercial production, there is no assurance that future development activities will result in profitable mining operations.

Turquoise Hill Announces Management Change

Retrieved on: 
Thursday, March 4, 2021
Minerals, Mining, Companies, Ömnögovi Province, Oyu Tolgoi mine, Rio Tinto, Turquoise Hill Resources, Turquoise, Copper mining in Mongolia

We thank Mr. Quellmann for his service to Turquoise Hill and the advancements he has made in bringing the Company closer to a financing plan for the Oyu Tolgoi project.

Key Points: 
  • We thank Mr. Quellmann for his service to Turquoise Hill and the advancements he has made in bringing the Company closer to a financing plan for the Oyu Tolgoi project.
  • Since April 2017, Mr. Thibeault has had no affiliation with either Turquoise Hill or Rio Tinto.
  • Mr. Thibeault led the negotiations of the funding agreements for Turquoise Hill that the Company entered into with Rio Tinto in 2015.
  • Turquoise Hill is an international mining company focused on the operation and continued development of the Oyu Tolgoi copper-gold mine in Mongolia, which is the Company's principal and only material mineral resource property.

Turquoise Hill provides update on Arbitration proceedings

Retrieved on: 
Thursday, February 11, 2021
Minerals, Mining, Ömnögovi Province, Companies, Oyu Tolgoi mine, Turquoise Hill Resources, Rio Tinto, OT, Windfall tax, Turquoise, MONGOLIA, Copper mining in Mongolia

MONTREAL, Feb. 11, 2021 /PRNewswire/ -Turquoise Hill Resources Ltd. ("Turquoise Hill" or the "Company") announced today that the Company and Rio Tinto have agreed to cancelthe hearing scheduledforMarch 2to consider the continuation of the temporary injunction ordered by the arbitrator in the British Columbia arbitration, as announced by Turquoise Hill on February 4, 2021.

Key Points: 
  • MONTREAL, Feb. 11, 2021 /PRNewswire/ -Turquoise Hill Resources Ltd. ("Turquoise Hill" or the "Company") announced today that the Company and Rio Tinto have agreed to cancelthe hearing scheduledforMarch 2to consider the continuation of the temporary injunction ordered by the arbitrator in the British Columbia arbitration, as announced by Turquoise Hill on February 4, 2021.
  • The parties have agreed that the injunction will remain in effect pending the outcome of the arbitration.
  • Turquoise Hill is an international mining company focused on the operation and continued development of the Oyu Tolgoi copper-gold mine in Mongolia, which is the Company's principal and only material mineral resource property.
  • Turquoise Hill's ownership of the Oyu Tolgoi mine is held through a 66% interest in Oyu Tolgoi LLC (Oyu Tolgoi); Erdenes Oyu Tolgoi LLC, a Mongolian state- owned entity, holds the remaining 34% interest.

Rio Tinto confirms development capital and timeline for Oyu Tolgoi underground

Retrieved on: 
Wednesday, December 16, 2020
Mining, Minerals, Natural Resources, Mining, Ömnögovi Province, Geography of Asia, Oyu Tolgoi mine, Companies, Rio Tinto, OT, MONGOLIA, Windfall tax, Copper mining in Mongolia

Rio Tinto today unveiled a pathway for the ongoing development of the underground project at Oyu Tolgoi in Mongolia, one of the largest known copper and gold deposits in the world.

Key Points: 
  • Rio Tinto today unveiled a pathway for the ongoing development of the underground project at Oyu Tolgoi in Mongolia, one of the largest known copper and gold deposits in the world.
  • The definitive estimate details how Oyu Tolgoi underground will achieve sustainable production for Panel 0 by October 2022 for development capital of $6.75 billion.
  • This will unlock the most valuable part of Oyu Tolgoi, delivering significant benefits for the shareholders of Oyu Tolgoi and the people of Mongolia.
  • Rio Tinto has been the manager of the Oyu Tolgoi project since 2010.

FINAL DEADLINE ALERT: The Schall Law Firm Announces it is Investigating Claims Against Turquoise Hill Resources Ltd. and Encourages Investors with Losses of $100,000 to Contact the Firm

Retrieved on: 
Monday, December 14, 2020
Legal, Professional services, Ömnögovi Province, Mining in Mongolia, Copper mining in Mongolia, Turquoise Hill Resources, Mining, Oyu Tolgoi mine, Companies, Securities Class Action, United States Securities Regulation

The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Turquoise Hill Resources Ltd. (Turquoise Hill or the Company) (NYSE: TRQ ) for violations of the securities laws.

Key Points: 
  • The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Turquoise Hill Resources Ltd. (Turquoise Hill or the Company) (NYSE: TRQ ) for violations of the securities laws.
  • The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
  • Turquoise Hill suffered stability issues at its Oyu Tolgoi copper-gold mine in Mongolia that were far more severe than represented.
  • The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

SailingStone Capital Partners Writes Open Letter to Turquoise Hill Board Commending Them on Initial Steps to Improve Corporate Governance at Oyu Tolgoi

Retrieved on: 
Friday, December 4, 2020
Professional services, Natural Resources, Mining, Minerals, Finance, Companies, Mining, Ömnögovi Province, Oyu Tolgoi mine, Business, Rio Tinto, Corporate governance, OT, Turquoise Hill Resources, Copper mining in Mongolia

Trust, proper corporate governance, and a clear understanding of roles and responsibilities sit at the core of any partnership.

Key Points: 
  • Trust, proper corporate governance, and a clear understanding of roles and responsibilities sit at the core of any partnership.
  • Turquoise Hill owns 66% of Oyu Tolgoi, with the remaining 34% held by the Government of Mongolia.
  • Rio Tinto is also the majority shareholder of Turquoise Hill, having paid approximately $6.3 billion for its 51% ownership stake.
  • Over the last decade, Rio has received more than $1.5 billion in compensation for its work at Oyu Tolgoi and related financings.