MONTREAL, June 14, 2022--Turquoise Hill Announces First Drawbell Firing.
A top official at the giant Oyu Tolgoi copper-gold mining project in Mongolia has called for greater transparency and more power to the local management, as global miner Rio Tinto looks to buy out the troubled project. Mongolia owns 34% of Oyu Tolgoi, one of the world's largest-known copper and gold deposits in the Gobi desert, and Rio controls the rest through its 51% stake in Toronto-listed Turquoise Hill Resources. Rio Tinto and the Mongolian government in January reached an agreement to end a long-running dispute over a $6.75-billion expansion of the mine which is behind schedule and has run $1.4 billion over budget.
Toronto Stock Exchange (TSX) announced today the launch of the S&P/TSX Battery Metals Index. The new index measures the performance of TSX and TSX Venture Exchange listed companies that are focused on the production and exploration of select metals, which are significant inputs in the decarbonization of the transportation sector.