Turquoise Hill Resources Ltd. announced today that the Company and Rio Tinto have agreed to cancel the hearing scheduled for March 2 to 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 [...]
Turquoise Hill Resources Ltd. announces that it was successful in obtaining a temporary order on its application for urgent interim relief in the arbitration proceedings with Rio Tinto International Holdings Limited and a related party. As a result of the Order, until further order of the arbitrator, Rio Tinto may not use the parties' existing [...]
Pentwater Capital Management LP , the largest minority shareholder of Turquoise Hill Resources Ltd. , urges regulators, including the U.S. Securities Exchange Commission , to carefully consider Rio Tinto's alleged breach of securities laws and continued improper actions involving Turquoise Hill. Just over a week ago, a Federal District Court in the [...]
Turquoise Hill Resources Ltd. announces that it has brought an application for an interim order before the Tribunal in its arbitration proceedings with Rio Tinto International Holdings Limited and a related party. The Company is taking this step in response to certain actions taken by Rio Tinto which will, if carried out by Rio Tinto: limit the [...]
Turquoise Hill Resources Ltd. today announced fourth quarter 2020 production for Oyu Tolgoi, as well as operational and financial guidance for 2021 and provided an update on undercut criteria discussions. Operational highlights Full year copper production of 149,631 tonnes vs original guidance range of 140,000 – 170,000 tonnes Full year gold [...]
Turquoise Hill Resources Ltd. today announced that Oyu Tolgoi LLC has evaluated the Tax Act claim for approximately US$228 million from the Mongolian Tax Authority , as announced on December 23, 2020, including the seeking of a reduction of Oyu Tolgoi's carried-forward tax losses by approximately US$1.5 billion. On February 20, 2020, the Company [...]
Turquoise Hill Resources today announced that Oyu Tolgoi LLC has received, and is evaluating, a Tax Act for approximately US$228 million cash tax from the Mongolian Tax Authority relating to an audit on taxes imposed and paid by Oyu Tolgoi LLC between 2016 and 2018. This tax assessment is being evaluated by Oyu Tolgoi LLC and a response will be [...]
Turquoise Hill Resources Ltd. today announced that, as contemplated in its announcement on September 10, 2020 following the execution of the non-binding MOU with Rio Tinto, it has completed the first phase of its comprehensive funding review process, which involved the identification, market testing and evaluation of a range of funding options [...]
Turquoise Hill Resources Ltd. announced the completion and delivery by Rio Tinto of the Definitive Estimate, which refines the analysis contained in the feasibility study underlying the Company's Oyu Tolgoi Technical Report dated and filed on August 28, 2020. The results of the Definitive Estimate include: a revised base case project development [...]
SailingStone Capital Partners , a large, long-time owner of Turquoise Hill Resources Ltd. , has written the attached letter to the Turquoise Hill Board of Directors: Dear Members of the Board of Turquoise Hill Resources Ltd., As a large, long-time shareholder of Turquoise Hill, SailingStone Capital Partners would like to commend Turquoise Hill and [...]
Pomerantz LLP announces that a class action lawsuit has been filed against Turquoise Hill, Rio Tinto, Rio Tinto subsidiary Rio Tinto International Holdings Limited, and certain of their officers. The class action, filed in United States District Court for the Southern District of New York, and docketed under 20-cv-10198, is on behalf of a class [...]
Pentwater Capital Management LP , the largest minority shareholder of Turquoise Hill Resources Ltd. , has written the attached letter to the Rio Tinto Plc Board of Directors: Dear Members of the Board of Directors of Rio Tinto Plc: I am disappointed with the need to write this letter to you. Just three short days ago I wrote to you listing a litany [...]
