Rio Tinto and the Mongolian government – both owners of the massive Oyu Tolgoi copper-gold mine in the South Gobi region of Mongolia – have officially commemorated the start of underground production from the operation. Full story.
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Canadian miner Turquoise Hill said 86.6% of its shareholders have voted in favor of Rio Tinto’s $3.3 billion takeover bid, reported Reuters. Read full article.
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Thiess long-time joint venture Thiess Khishig Arvin (TKAJV) has secured a contract extension for the underground works at the Oyu Tolgoi copper complex in the southern Gobi Desert of Mongolia. Read full article from The Asia Miner.
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Rio Tinto has taken interest in acquiring the remaining shares it does not already own of Turquoise Hill Resources and the Oyu Tolgoi copper operation in Mongolia in a $2.7 billion cash proposal. Read full article from The Asia Miner.
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Rio Tinto, Turquoise Hill Resources and the Mongolian government have reached an agreement that will move the Oyu Tolgoi project forward, resetting the relationship between the partners and increasing the value the project delivers for Mongolia. As part of the deal, Turquoise Hill will waive the $2.4 billion in debt owed to it by the Mongolian government. Commencement of underground…
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Turquoise Hill confirms that the Oyu Tolgoi LLC board of directors has approved a bridging budget of $75 million to continue critical activities at the Oyu Tolgoi underground mine development project in southern Mongolia. The approval reflects the progress made during recent negotiations between Turquoise Hill, the Mongolian government and Rio Tinto about the expansion of the Oyu Tolgoi copper-gold…
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Oyu Tolgoi partial owner Turquoise Hill Resources has commented on a third-party consulting report reviewing the ballooning costs and timeline for the Mongolian project, confirming it will be seeking clarifications from the authors. Read full article in The Asia Miner.
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