Bayan Khundii project went from greenfield prospect to being Erdene’s flagship asset in roughly nine months.
Turquoise Hill Mining News
Move follows extensive talks with Chinese and Mongolian authorities.
Chief executive Jean-Sebastian Jacques comments come as the company had to suspend shipments from the Mongolian mine last week.
Erdenes Tavan Tolgoi (ETT), the state-owned company that holds the license to the deposit, has already begun evaluating bids and calculating the potential economic benefits of restarting it.
Lower grades and reduced mining at open pit expected with massive underground expansion of Mongolian mine at least five years away.
The company's Bayan Khundii project went from greenfield prospect to the company’s flagship asset in roughly nine months.
The mining giant is said to have hired Goldman Sachs as an adviser to look at a two-step wrap-up of the Vancouver-based firm.
Construction of the massive mine's underground portion will begin within months, with first production expected by 2020.
During the PFI Awards Dinner held in London on Feb. 3.
The $4.4 billion deal involved international financial institutions and export credit agencies representing the governments of the U.S., Canada and Australia, along with 15 commercial banks.
The agreement, which is said to involve up to 15 banks, could be signed as early as Wednesday.
Vancouver-based company said it is waiting for "final notice to proceed" for $5 billion expansion of giant copper-gold mine in Mongolia mine.
The company said it would announce a final decision on the matter early next year.
Rio will buy all of Turquoise Hill soon says new report, but 'there's no incentive to promote the true value' of Vancouver co's giant Mongolia copper mine.
The move is part of a plan to sell the government's holdings in 10 state-owned companies over this year and next to boost foreign investment and revive growth.
The company, which owns a gold project in Mongolia, is optimistic about the country's stance towards foreign mining investment over the coming years.
The country's parliament decided Tavan Tolgoi needs the approval of legislators before going ahead.
After two years of bitter wrangling Mongolian cabinet approves Vancouver firm's $5 billion expansion of massive copper-gold mine in Gobi desert.
Prime Minister Chimed Saikhanbileg said Friday his country should take charge of how long a dispute a expansion of the copper and gold mine has taken.
Rio Tinto and Mongolia have made a breakthrough in a tax dispute that has been among issues stalling development of the $6.5 billion Oyu Tolgoi copper mine, according to an official familiar with the government's position.
An international arbitration tribunal has ordered Mongolia to fork over $100 million for expropriating the Dornod uranium project from Khan Resources (CNSX:KRI) back in 2009.
Mongolia may give up government shareholding in mining projects altogether.
Banned from travel since 2012, three SouthGobi workers, a coal firm owned Vancouver's Turquoise Hill, are now going to jail for 5-6 years for tax evasion.
Documents obtained and verified by The Australian, show that Rio Tinto offered Mongolia to forsake a “net smelter return” of 2% cent of the project’s revenue.
Higher grades boost fourth quarter production despite concentrator fire at Oyu Tolgoi in Mongolia.