The company has raised its investment forecast to $3.3 billion for its Sukhoi Log gold deposit in Siberia.

Turquoise Hill last week began arbitration proceedings against its biggest shareholder Rio Tinto to seek "clarity" on financing for Oyu Tolgoi, one of Rio's biggest growth projects.

India had offered a range of financial incentives to attract investment, but foreign firms have shunned the auctions.

The company also reported a record net loss of 60.2 billion yen ($583 million) for the first half of its financial year.

The Western Australia-based company is now the main shareholder at Ziron Tech.