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Turquoise Hill announces financial Results and Review of Operations for the second Quarter of 2020

Turquoise Hill Resources Ltd. today announced its financial results for the period ended June 30, 2020.

“Faced with the challenges of operating within the constraints posed by the COVID-19 pandemic, the Oyu Tolgoi team posted outstanding safety and production performance in the second quarter of 2020. The open pit operations have continued uninterrupted, and the underground development, while experiencing restrictions on workforce numbers and the ability to repatriate specialists from around the world, has continued to progress. The team’s focus on optimization initiatives has resulted in, among other things, an increase to our 2020 gold production guidance.

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First of its Kind: Bucket Wheel Excavator Barracuda makes Coal Mining in China safer and more efficient

 

Thyssenkrupp has won its first order for its new Barracuda® compact bucket wheel excavator. China Huaneng Group has ordered the bucket wheel excavator based overburden system from the mining unit of the company’s Industrial Solutions business area. The order is worth more than €40 million. The Barracuda is due to go into operation at the Yiminhe open-pit mine in Inner Mongolia in 2018.

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Turquoise Hill Resources: 4-Q-2015 Production for Oyu Tolgoi - continued to operate at Record Levels

Jeff Tygesen, Turquoise Hill Chief Executive Officer, said, “Oyu Tolgoi continued to operate at record levels for the fourth quarter. Productivity improvements in the concentrator implemented throughout the year led to throughput for the quarter exceeding nameplate capacity. Thanks to the focus and dedication of Oyu Tolgoi’s workforce, we beat our 2015 copper production guidance and met our gold target.”

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Turquoise Hill: Management Changes

Turquoise Hill Resources announced the resignation of Stewart Beckman, Senior Vice President, Operations and Technical Development, effective October 1, 2015. Mr. Beckman has accepted a new position within Rio Tinto.

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Investigation launched into Mongolian Iron Ore Mine financed by European Bank for Reconstruction and Development for Impacts on local Communities

Last week, the independent accountability mechanism of the EBRD announced it will investigate the EBRD-financed mine, operated by Altain Khuder in the Gobi-Altai region of Mongolia. The investigation comes in response to a complaint filed to the EBRD’s Project Complaint Mechanism (PCM) in December 2014 from herders affected by the project.

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