Turquoise Hill appoints Steeve Thibeault CFO Turquoise Hill Resources announced the appointment of Steeve Thibeault as CFO effective June 1. Thibeault will replace Chris Bateman, who will be leaving the company to pursue other opportunities. Most recently, Thibeault was CFO of Energy Resources of Australia.
Turquoise Hill provides update on Mongolian tax authority ruling Turquoise Hill Resources announced that it has completed a detailed review of the tax ruling of the Tax Dispute Resolution Council of the Mongolian General Taxation Department issued on September 10. The ruling has reduced the amount of tax, interest and penalties claimed to be payable by Oyu Tolgoi from approximately $127M to approximately $30M. While this significant reduction is welcome, there are aspects of the ruling that require further clarification. Oyu Tolgoi will continue to work with the Mongolian Tax Authority to obtain further clarity on some of the findings in the ruling. Turquoise Hill, Rio Tinto and the Government of Mongolia continue to engage in order to resolve outstanding shareholder issues.