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Turquoise Hill Provides Update on Parliamentary Working Group Report www.turquoisehill.com
Turquoise Hill Resources Ltd. (“Turquoise Hill”) today provided an update on a Mongolian Parliamentary Working Group Report (the “PWG Report”) regarding certain contractual agreements with the Government of Mongolia that underpin Turquoise Hill’s investment in the Oyu Tolgoi copper-gold mine.
On May 3, 2019, a summary of the PWG Report was received by our 66%-owned Mongolian subsidiary, Oyu Tolgoi LLC, which in turn owns the Oyu Tolgoi mine. Yesterday, Oyu Tolgoi LLC provided the Economic Standing Committee (“ESC”) with a written response to the summary of the PWG Report.
At this time, it is our understanding that the timeline to review the PWG Report by the ESC has not been fully established.
Ulf Quellmann, CEO of Turquoise Hill, is in Mongolia actively working on this matter with the Oyu Tolgoi LLC team as well as Rio Tinto.
Turquoise Hill will further update the market in due course.
Published Date:2019-05-08
