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Stock Market & Financial Investment News

News Breaks
February 13, 2014
05:36 EDTTRQTurquoise Hill updates on Oyu Tolgoi
Oyu Tolgoi's gross revenues were $55M on sales of 26,400 tonnes of concentrate. Year to date sales volumes have fallen short of expectations and some sales have been deferred into the Q2 and Q3. 60% of Oyu Tolgoi's 2014 production is under contract, with additional volumes confirmed and subject to contract finalization. Discussions are advancing well to place the balance of material. Production rates have recently been impacted by various post-commissioning issues including the failure of the rake blades in the tailings thickeners. This is expected to result in the shutdown of one line for a period of six to eight weeks. The operations team is taking the opportunity to pull forward plant maintenance and modification work, that would have required plant slow down later in the year. For 2014, Oyu Tolgoi continues to target production of 150,000-175,000 tonnes of copper in concentrates and 700,000-750,000 ounces of gold in concentrates. However, 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.
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July 15, 2014
17:09 EDTTRQTurquoise Hill reports 16.86M tonnes open pit material mines in Q2
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