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Ivanhoe Mines Changes Name, Becomes Turquoise Hill Resources

By International Business Times,  August 02, 2012, 11:08:43 PM EDT

Canada-based Ivanhoe Mines has changed its name and will now be known as Turquoise Hill Resources Ltd. The new name, which was approved at the company's annual meeting on June 28, 2012, had gone into effect.

Effective August 8, 2012, the mining firm's trading symbol likewise changes to "TRQ" on the Toronto Stock Exchange, the New York Stock Exchange and the NASDAQ Stock Market.

The change in corporate name was part of the memorandum of agreement (MOA) that Ivanhoe Mines entered into with global mining giant Rio Tinto that was announced on April 18, 2012. The MOA was locked in a financing deal that will aid the $6.2 billion Oyu Tolgoi copper and gold project in Mongolia through. Ivanhoe founder and CE Robert Friedland likewise had to step down as part of the financing deal.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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