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turquoise hill resources ltd (TRQ) Snapshot

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05/8/13 - C$6.04
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turquoise hill resources ltd (TRQ) Details

Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mineral exploration, development, and mining company. The company’s principal mineral resource property includes the Oyu Tolgoi project, a copper-gold project located in the South Gobi region of Mongolia. It also holds interests in coal resource properties in Mongolia; and molybdenum and silver resource properties. The company was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd. in August 2012. Turquoise Hill Resources Ltd. was founded in 1994 and is headquartered in Vancouver, Canada. Turquoise Hill Resources Ltd. is a subsidiary of Rio Tinto International Holdings Limited.

3,360 Employees
Last Reported Date: 03/26/14
Founded in 1994

turquoise hill resources ltd (TRQ) Top Compensated Officers

Chief Executive Officer, Director, Member of ...
Total Annual Compensation: $506.5K
Chief Financial Officer
Total Annual Compensation: $310.5K
Senior Vice President of Operations and Techn...
Total Annual Compensation: $291.9K
Compensation as of Fiscal Year 2013.

turquoise hill resources ltd (TRQ) Key Developments

Turquoise Hill Announces First Quarter 2014 Production for Oyu Tolgoi; Provides Production Guidance for 2014 at Oyu Tolgoi

Turquoise Hill Resources announced the first quarter 2014 production for Oyu Tolgoi. Production at Oyu Tolgoi in first quarter of 2014 was heavily impacted by post commissioning issues, including rake blade failure in both of the tailings thickeners, which caused the shutdown of one production line for approximately seven weeks. Repairs to the rakes have been completed and full production recommenced in late March. The concentrator also completed a number of major planned shutdowns in first quarter of 2014, including ball mill relines and the first concave change in the primary crusher. Copper and gold head grades increased in first quarter of 2014 as the mine deepened. These higher grades combined with ongoing improvement initiatives led to improved copper and gold recoveries during the quarter. Also during March 2014, Oyu Tolgoi processed small volumes of ore from the high grade areas of the gold core. Concentrate sales continue to accelerate and are matching current production. During the second half of 2014, Oyu Tolgoi is expected to drawdown inventory. Oyu Tolgoi will monitor production levels and if necessary, match them to meet customer requirements, with the goal of returning to more normal levels of inventory by the end of 2014. Oyu Tolgoi expects to produce 135,000 to 160,000 tonnes of copper and 600,000 to 700,000 ounces of gold in concentrates for 2014.

Turquoise Hill Resources Ltd. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Turquoise Hill Resources Ltd. reported earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net income from continuing operations attributable to parent of $134.3 million or $0.10 per diluted share on total revenue of $84 million compared to net loss from continuing operations attributable to parent of $144 million or $0.11 per diluted share on total revenue of $1.3 million for the same period of last year. Net income attributable to parent was $138.4 million or $0.11 per diluted share compared to net loss attributable to parent was $145.0 million or $0.11 per diluted share for the same period of last year. For the year, the company reported net loss of $112.0 million or $0.09 per share compared to a net loss of $412.1 million or $0.37 per share in 2012, which was a decrease of $300.1 million.

Turquoise Hill Resources Ltd. to Report Q4, 2013 Results on Mar 26, 2014

Turquoise Hill Resources Ltd. announced that they will report Q4, 2013 results at 11:46 PM, GMT Standard Time on Mar 26, 2014


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