Home > Boards > US Listed > Mining/Resources > Turquoise Hill Resources, Ltd. (Ivanhoe Mines LTD) (TRQ)

Oyu Tolgoi notified of Government of Mongolia’s cancellation

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Pro-Life Member Profile
Member Level 
Followed By 845
Posts 39,484
Boards Moderated 23
Alias Born 08/16/07
160x600 placeholder
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 1/21/2020 5:31:41 PM
Turquoise Hill appoints George Burns as director PR Newswire (Canada) - 1/21/2020 5:30:00 PM
Turquoise Hill appoints George Burns as director PR Newswire (US) - 1/21/2020 5:30:00 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 1/16/2020 4:54:57 PM
Turquoise Hill announces fourth quarter 2019 production and 2020 operational and financial guidance PR Newswire (Canada) - 1/16/2020 4:30:00 PM
Turquoise Hill announces fourth quarter 2019 production and 2020 operational and financial guidance PR Newswire (US) - 1/16/2020 4:30:00 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 12/11/2019 5:11:57 PM
Turquoise Hill (TRQ) acknowledges the Resolution put forward by the Parliamentary Working Group (PWG), and passed unanimously... PR Newswire (Canada) - 12/11/2019 4:00:00 AM
Turquoise Hill (TRQ) acknowledges the Resolution put forward by the Parliamentary Working Group (PWG), and passed unanimously... PR Newswire (US) - 12/11/2019 4:00:00 AM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 11/19/2019 9:22:50 AM
Turquoise Hill notes Administrative Court proceedings in Mongolia PR Newswire (Canada) - 11/19/2019 4:30:00 AM
Turquoise Hill notes Administrative Court proceedings in Mongolia PR Newswire (US) - 11/19/2019 4:30:00 AM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 11/12/2019 5:23:59 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 11/12/2019 5:21:37 PM
Turquoise Hill announces financial results and review of operations for the third quarter of 2019 PR Newswire (Canada) - 11/12/2019 5:12:00 PM
Turquoise Hill announces financial results and review of operations for the third quarter of 2019 PR Newswire (US) - 11/12/2019 5:12:00 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 11/4/2019 5:27:41 PM
Turquoise Hill Announces Completion of Shaft 2 PR Newswire (Canada) - 11/4/2019 5:00:00 PM
Turquoise Hill Announces Completion of Shaft 2 PR Newswire (US) - 11/4/2019 5:00:00 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 10/30/2019 5:15:58 PM
Turquoise Hill Resources will announce its third quarter financial results on Tuesday, November 12, 2019 after markets close ... PR Newswire (Canada) - 10/30/2019 5:00:00 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 10/16/2019 6:02:12 AM
Turquoise Hill announces third quarter 2019 production results and provides underground development update PR Newswire (Canada) - 10/15/2019 5:25:00 PM
Turquoise Hill announces third quarter 2019 production results and provides underground development update PR Newswire (US) - 10/15/2019 5:25:00 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 9/4/2019 5:14:59 PM
Pro-Life Member Level  Saturday, 02/17/18 09:52:20 AM
Re: JettLoneStar post# 458
Post # of 503 
Oyu Tolgoi notified of Government of Mongolia’s cancellation of Power Sector Cooperation Agreement
February 15, 2018


Via e-Mail...

http://www.turquoisehill.com/i/pdf/news/NR-February-15-2018-Turquoise-Hill.pdf

Turquoise Hill today announced that Oyu Tolgoi has received notification the Government of Mongolia (Government) has canceled the Power Sector Cooperation Agreement (PSCA), which was signed in 2014. The Government’s cancellation, under Section 1.3 of the PSCA, indicates that the Tavan Tolgoi power project is no longer a viable option.

In August 2014, the Government of Mongolia and Oyu Tolgoi signed the PSCA for the exploration of a Tavan Tolgoi- based independent power producer. The agreement provided 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 PSCA met Oyu Tolgoi’s obligation in the 2009 Oyu Tolgoi Investment Agreement (Investment Agreement) to establish a long-term power supply within Mongolia four years from the commencement of commercial production. As a result of the Government’s cancellation, effective February 15, 2018 long-term power for Oyu Tolgoi must be domestically sourced within four years.

Oyu Tolgoi, Turquoise Hill and Rio Tinto are committed to fulfilling all requirements under the Investment Agreement and are continuing to evaluate all viable power options, including construction of an Oyu Tolgoi based power plant. A final decision on the outcome, cost or financing of a permanent domestic power supply has not been concluded at this time.

The cost of a power solution for Oyu Tolgoi is not included in the Company’s $5.3 billion expansion capital project estimate for the development of Hugo North Lift 1.

Domestically-sourced power for Oyu Tolgoi is addressed in Chapter Seven (Infrastructure) of the Investment Agreement.

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist