New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 23, 2014
07:46 EDTTRQ, RIOOyu 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
Check below for free stories on TRQ;RIO the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
August 20, 2014
09:17 EDTRIOCloud Peak announces termination of TRA with Rio Tinto
Subscribe for More Information
August 18, 2014
06:18 EDTRIORio Tinto to review options in Bougainville Copper Limited
Subscribe for More Information
August 14, 2014
07:35 EDTTRQTurquoise Hill, Oyu Tolgoi sign PSCA with Mongolia government
Subscribe for More Information
August 13, 2014
12:22 EDTRIOIron ore prices at lowest level in months, Business Spectator says
Subscribe for More Information
August 12, 2014
07:52 EDTTRQTurquoise Hill sees revenue exceeding production through end of FY14
Strong concentrate sales are expected to continue throughout the 2H14. Sales are expected to exceed production through the end of 2014. Oyu Tolgoi's goal is to reach four to eight weeks of concentrate production in inventory by the end of 2014. Sales contracts have been signed for 100% of Oyu Tolgoi's expected 2014 concentrate production and long-term contracts account for 92% of 2015 planned production. Additionally, 84% of concentrate production has been contracted for up to eight years. All contracts are based on international terms. While small amounts of higher-grade ore were processed in Q2, the grade is expected to increase as the mine deepens into a high-grade zone during the second half of 2014. In the high-grade zone, copper head grades are expected to reach 0.60%-0.70% per tonne and gold head grades are expected to average approximately 1.0 gram per tonne. Turquoise Hill continues to expect Oyu Tolgoi to produce between 135,000-160,000 tonnes of copper and 600,000-700,000 ounces of gold in concentrates for 2014. As operations transition from post-commissioning to steady-state, Oyu Tolgoi has been focusing on cost reduction and productivity initiatives designed to generate positive cash flow, improve overall operational and financial performance.
07:50 EDTTRQTurquoise Hill reports Q2 EPS (3c), one estimate 1c
Subscribe for More Information
August 6, 2014
06:30 EDTRIOSABMiller appoints Jan du Plessis as next chairman
SABMiller (SBMRY) announced that Jan du Plessis has agreed to join the SABMiller board as an independent non-executive director with effect from September 1. The board of SABMiller intends to appoint du Plessis as Chairman in succession to John Manser at the conclusion of the annual general meeting in July 2015, when Manser will, as previously intimated, retire from the board, having deferred his previously expected retirement date for one year. This will allow for an appropriate period of familiarisation and handover, and facilitate orderly succession planning. du Plessis will also join the Nomination Committee with effect from September 1. du Plessis is chairman of Rio Tinto plc (RIO) and Rio Tinto Limited, having been appointed to that role in 2009, following his appointment as a director in 2008.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use