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Turquoise Hill Resources - Oyu Tolgoi

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ubu 30 oktober 2020 17:14

www.turquoisehill.com/site/assets/fil...

"Turquoise Hill Resources Ltd. (Turquoise Hill or the Company) announced today that it has implemented the previously announced consolidation (or reverse stock-split) of the Company’s issued and outstanding common shares (the Common Shares)at a ratio of one post-consolidation share for every ten pre-consolidation shares, effective today, October 23, 2020 at 5:00 p.m. (Eastern Standard Time) (the Consolidation). The Consolidation was previously approved by the Company’s shareholders at the annual and special meeting of shareholders held on July 24, 2020. "

haas 17 december 2020 05:29

quote:
haas schreef op 22 mei 2019 09:33:
Naast de wereldwijde transitie naar zonne- en windenergie, is vooral elektrisch rijden een zeer grote veroorzaker van een enorme stijging van de vraag naar koper.

Een gewone auto bevat 55 pond koper. Een elektrische auto 165 pond. Voor een elektrische auto is dus drie keer zoveel koper nodig.

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https://www.ft.com/content/5ac622fd-653a-4c8b-959b-321bb03259b7

Rio eyes production from Mongolia copper project in 2022
Budget for underground mine hits $6.75bn and draws angry response from Ulaanbaatar

Rio Tinto expects to achieve first production from the expansion of its giant copper mine in the Gobi Desert by October 2022 but only if it can reach agreement on several outstanding issues with the government of Mongolia and a Canadian subsidiary.

The company said on Wednesday that the budget for the first phase of the underground project at Oyu Tolgoi would come in at $6.75bn and it would start caving operations once it had received outstanding approvals, finalised a new power source and reached agreement on financing.

Its comments drew an angry response from Ulaanbaatar, which said it was surprised at Rio’s multiple references to “government approvals”.

www.ft.com/content/5ac622fd-653a-4c8b...

ubu 15 februari 2021 19:12

www.reuters.com/article/rio-tinto-oyu...

UPDATE 2-Mongolia considers terminating Oyu Tolgoi copper mine expansion as costs jump -developer
By Reuters Staff

3 MIN READ

(Adds shares, comment from Rio, analysts)

Jan 11 (Reuters) - Rio Tinto-controlled Turquoise Hill Resources said on Monday that Mongolia’s government is considering terminating the companies’ underground expansion of their Oyu Tolgoi copper mine project due to rising development costs.

Shares of Turquoise Hill fell as much as 20% in early trading on the news.

Oyu Tolgoi is one of the world’s largest-known copper and gold deposits.

Rio Tinto announced in 2019 a 30-month delay to a project to expand the mine underground and a cost overrun due to difficult geology. Last month the company confirmed that the expansion at the mine would cost $6.75 billion, about $1.4 billion higher than its estimate in 2016.

The government has told Rio Tinto it is dissatisfied with the miner’s plans and is concerned that the significant increase in the development costs of the Oyu Tolgoi project has eroded the economic benefits that the country had hoped to get, Turquoise Hill said.

“The government of Mongolia has indicated that if the Oyu Tolgoi project is not economically beneficial to the country, it would be necessary to review and evaluate whether it can proceed,” Turquoise Hill said in a statement.

The government’s position is not surprising given it is not expected to receive any cash flows beyond taxes and mining royalties from its ownership stake in the project for the foreseeable future due to $7 billion in partner loans accumulated during construction, Bank of Nova Scotia analyst Orest Wowkodaw said.

The Mongolian government holds a 34% stake in the mine and Turquoise Hill owns 66%.

Exchanging the government’s stake for “a markedly higher royalty (cash flowing immediately) would be in the best interest of all stakeholders,” Wowkodaw said.

Turquoise Hill said it was committed to engaging immediately with the government and Rio Tinto to address the development plan and revisit the sharing of economic benefits.

The companies have sunk $11 billion into the mine since 2010, Rio said in a separate statement to Reuters, adding it “remains open” to increasing benefits to all shareholders.

DeZwarteRidder 15 februari 2021 19:16

Mongolië is een rampzalig land voor mijnbouwers.

En het nog te investeren bedrag is krankzinnig hoog.

ubu 15 februari 2021 19:37

Ja, 6,75 mld USD maar als het allemaal operationeel is, hebben we het over de op 3 na grootste koper- en goudmijn ter wereld. Bovendien andere grote kopermijnen liggen toch ook niet in het Schwarzwald of in Noorwegen. Als een groot deel vd planeet straks elektrisch moet gaan rijden, zal dat koper toch ergens vandaan moeten komen. En ik denk niet dat Rio Tinto dit project laat schieten of zal toestaan dat Russen of Chinezen ermee aan de haal gaan.

ubu 15 februari 2021 19:43

www.mining.com/rio-tinto-looming-talk...

haas 15 april 2021 23:47

quote:
haas schreef op 30 mei 2019 06:38:
TRQ: 1.22

Turquoise Hill Resources Ltd
$ 19,45
1,09%

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