Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mineral exploration, development, and production company in central Asia and Australia. The company holds interests in coal resource properties in Mongolia and molybdenum, rhenium, copper, gold and uranium resource properties in Australia. It also holds interests in other mineral resource projects in Asia, including a 50% interest in the Kyzyl Gold Project, located in Kazakhstan, through a shareholding in Altynalmas Gold Ltd. Properties Oyu Tolgoi Project The Oyu Tolgoi Project is approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and 80 kilometers north of the Mongolia-China border. Mineralization on the property consists of porphyry-style copper, gold, silver, and molybdenum contained in a linear structural trend. The Oyu Tolgoi Project is operated through the company’s 66% owned subsidiary, Oyu Tolgoi LLC (OT LLC). OT LLC, in turn, holds its rights to the Oyu Tolgoi Project through mining license 6709A comprising approximately 8,496 hectares of property. OT LLC holds an interest in approximately 20,000 hectares of MEL 15226A (the Shivee Tolgoi Licence) and approximately 20,000 hectares of MEL 15225A (the Javkhlant Licence) owned by Entree Gold Inc. Ovoot Tolgoi Complex The Ovoot Tolgoi Coal Project, located approximately 40 kilometers from the China-Mongolia border, is SouthGobi Resources Ltd.’s primary producing asset. The products from the Ovoot Tolgoi Coal Project include coals with coking (or metallurgical) applications primarily a raw semi-soft coking coal and raw higher-ash coals, which can be washed into semi-soft coking coal. Soumber The Soumber Deposit comprises the Soumber Field and the Biluut Field and is located approximately 20 kilometers east of the Ovoot Tolgoi Coal Project. Other Projects Mongolia Metal Prospects The company, through its 100% subsidiaries, Asia Gold Mongolia LLC, Heruga Exploration LLC and SGLS LLC, operates an exploration program in Mongolia. The licences cover a total of approximately 47,475 hectares in 6 separate licences, some of which are joint venture licences. Kazakhstan The company holds a 50% voting equity interest in Altynalmas Gold Ltd., a company that holds a 100% interest in the Kyzyl Gold Project, which encompasses the Bakyrchik and Bolshevik gold deposits in northeastern Kazakhstan. It is located approximately 100 kilometers southwest of Ust-Kamenogorsk, the industrial centre of eastern Kazakhstan. Australia The company holds a 59% interest in Ivanhoe Australia, through its wholly-owned subsidiary, Orian Holding Corp. Ivanhoe Australia is a mineral resource issuer focused on the exploration for, and development of, minerals in northwest Queensland near Cloncurry, Australia. Its main projects are the Osborne Project, a copper-gold project; the Merlin Project, a molybdenum and rhenium deposit; and the Mount Dore Project, which is a polymetallic property hosting copper-gold resources. Ivanhoe Australia also holds an interest in several other prospective mineral properties, including the Mount Elliott Project, a copper and gold prospect located in Queensland, Australia. Other Exploration During 2011, the company had active exploration programs in Indonesia and the Philippines. These programs are principally being conducted through joint ventures and are focused on porphyry related copper-gold and epithermal gold-silver deposits. Significant Events In 2010, Rio Tinto and Turquoise Hill Resources Ltd. announced that they had reached agreement on the joint development of the Oyu Tolgoi copper and gold project in Mongolia. History The company was founded in 1994. It was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd. in August 2012.