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Featured News / Mining / Mongolia News / September 24, 2014

Turquoise Hill completes Mongolia mine feasibility study, confirms lower taxes

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  • Turquoise Hill Resources (TRQ -1.3%) says it completed a feasibility study of a $4.9B expansion of its Oyu Tolgoi mine in Mongolia after confirming the government reduced taxes on the project.
  • The latest study will need to be approved by all the mine’s stakeholders before the project can proceed; Oyu Tolgoi is operated by Rio Tinto (RIO -2.8%) and 66% owned by TRQ with the remaining 34% held by the Mongolian government.
  • TRQ says the Mongolian tax authority reduced the initial tax-related charges to ~$30M from $127M but will seek further clarity about the latest findings.
SOURCE: Seeking Alpha

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