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Stock Market & Financial Investment News

News Breaks
June 23, 2014
07:46 EDTRIO, TRQOyu Tolgoi receives audit report from Mongolian Tax Authority
Turquoise Hill (TRQ) announced that Oyu Tolgoi has received an audit report from the Mongolian Tax Authority claiming unpaid taxes, penalties and disallowed entitlements associated with the initial development of the Oyu Tolgoi mine. Turquoise Hill is of the firm view that Oyu Tolgoi has paid all taxes and charges as required under the Investment Agreement and Mongolian law. Turquoise Hill and Rio Tinto (RIO) are reviewing the detailed tax claim. Any element of the claim that amounts to a breach of the investment agreement will trigger the dispute resolution process outlined in the investment agreement including possible international arbitration. The impact of these claims on resolution of the outstanding shareholder issues is unclear at this time. However, completion of the underground feasibility study is likely to be delayed if a resolution to the tax matters is not reached before June 30. Turquoise Hill CEO Kay Priestly said, "We strongly disagree with the claims in the audit report and are currently reviewing all options to resolve this matter."
News For TRQ;RIO From The Last 14 Days
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February 11, 2016
13:13 EDTRIORio Tinto downgraded to Neutral from Buy at Citi
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07:20 EDTRIORio Tinto CEO sees mining pressure extending to majors, Bloomberg says
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05:53 EDTRIORio Tinto halts progressive dividend policy due to market uncertainty
With the continuing uncertain market outlook, the board believes that maintaining the current progressive dividend policy would constrain the business and act against shareholders' long-term interests. The company is therefore replacing the progressive dividend policy with a more flexible approach that will allow the distribution of returns reflect better the company's position and outlook. For 2016, Rio Tinto intends that the full year dividend will not be less than $1.10 per share.
05:52 EDTRIORio Tinto to cut operating costs by further $1B in 2016 followed by $1B in 2017
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February 4, 2016
11:21 EDTRIOOptions with increasing call volume; FMC HST XME RIO BHP PAY DNDK BSX ALLY SWFT

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