Referenced Stocks

Turquoise Hill Rejects Renege Request From Mongolia; Shares Drop 6%

By Midnight Trader,  October 15, 2012, 12:17:23 PM EDT

Turquoise Hill Resources ( TRQ ) is down 5.6% to $8.23 after announcing that, together with Rio Tinto ( RIO ) and Oyu Tolgoi LLC, it has rejected a request from the Government of Mongolia to renegotiate the Oyu Tolgoi Investment Agreement.

This comes following receipt of a letter from the minister of mining requesting the parties renegotiate the landmark agreement that was signed in October 2009 and became fully effective in March 2010. In October 2011, the Mongolian Government reaffirmed that the investment agreement was signed in full compliance with all laws and regulations of Mongolia.

TRQ is trading at $8.26 in a 52-week range of $7.60 - $23.08. Shares have fallen 8% in the last 12 months.




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

Referenced Stocks: RIO, TRQ



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