Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Turquoise Hill -2.5% on Oyu Tolgoi underground production delay

Published 10/16/2018, 08:49 AM
Updated 10/16/2018, 08:49 AM
© Reuters.  Turquoise Hill -2.5% on Oyu Tolgoi underground production delay
  • Turquoise Hill Resources (NYSE:TRQ) -2.5% pre-market on news that the $5.3B underground project at the Oyu Tolgoi copper-gold mine in Mongolia remains on schedule to be completed by 2022 but with a nine-month delay in achieving sustainable production.
  • Rio Tinto-owned (NYSE:RIO) Turquoise Hill, which holds Oyu Tolgoi in a partnership with the Mongolian government, says sustainable production would be achieved by the end of Q3 2021 rather than in Q1 2021, citing challenging ground conditions and delays in the completion of Shaft 2.
  • Meanwhile, TRQ says Oyu Tolgoi likely will meet the upper end of its FY 2018 production guidance of 140K-155K metric tons of copper in concentrate and 240K-280K oz. of gold.
  • Now read: An Update On Norilsk Nickel


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.