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Stock Market & Financial Investment News

News Breaks
August 14, 2014
07:35 EDTTRQTurquoise Hill, Oyu Tolgoi sign PSCA with Mongolia government
Turquoise Hill announced that Oyu Tolgoi has signed a Power Sector Cooperation Agreement with the government of Mongolia for the exploration of a Tavan Tolgoi-based independent power producer. The agreement lays out a framework for long-term strategic cooperation between the Mongolian Government and Oyu Tolgoi to deliver a comprehensive energy plan for the South Gobi region. Participation in the agreement meets Oyu Tolgoi's obligation in the Investment Agreement to establish a long-term power supply within Mongolia four years from the commencement of commercial production. The agreement provides a framework for a broad range of power-related issues, including establishment of a power generation source, transmission lines and power imports. The centerpiece of the PSCA is an open, international tender process to identify and select an independent power provider to privately fund, construct, own, and operate a power plant to supply electricity, with Oyu Tolgoi as the primary consumer. Full evaluation of the independent power producer option is expected to take nine to 12 months.
News For TRQ From The Last 14 Days
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December 17, 2014
08:00 EDTTRQTurquoise Hill announces dismissal of class action lawsuit
Turquoise Hill announced that District Court Judge Lorna G. Schofield dismissed the consolidated putative securities class action lawsuit that had been filed in the Southern District of New York against the company and certain of its officers and directors in December 2013. The lawsuit sought to recover damages that it claimed were attributable to alleged misstatements about the company's financial performance┬ arising out of revisions to its recognition of revenue on coal sales made by its partially-owned subsidiary, SouthGobi Resources, Ltd., as previously disclosed on November 8, 2013.
December 4, 2014
18:10 EDTTRQTurquoise Hill provides update on Oyu Tolgoi concentrator fire
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