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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."
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July 30, 2014
06:05 EDTRIORio Tinto to sell coal assets in Mozambique to ICVL for $50M
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05:27 EDTTRQTurquoise Hill sells 29,95% stake in SouthGobi Resources for C$0.46 per share
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July 23, 2014
06:13 EDTRIORio Tinto says Chinese demand for iron ore 'strong,' Daily Telegraph says
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July 16, 2014
05:15 EDTRIORio Tinto raises FY14 thermal coal production outlook to 17.5M tonnes
The company's previous thermal coal production guidance was 16.7M tons. This follows a change in the production profile to produce additional higher margin thermal coal from a processing plant by-product stream at Hail Creek. As a result of this change and lower than expected production during the ramp up at Kestrel, Australian hard coking coal production has decreased to 7.4M tonnes, previously 8.2M tonnes. Semi-soft coking coal production guidance remains unchanged at 3M tonnes.Rio Tinto’s share of uranium production across Rössing and ERA in 2014 is expected to be between 4.3M-5.1M pounds. This follows operational changes at Rössing in response to current market conditions. Progression to full processing capacity at ERA is anticipated in Q3. Reference Link
05:11 EDTRIORio Tinto reports Q2 global iron ore production up 11% to 73.1M tons
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