Global S&T Development Trend Analysis Platform of Resources and Environment
Turquoise Hill’s stock tanks on Mongolia troubles | |
admin | |
2019-07-16 | |
发布年 | 2019 |
语种 | 英语 |
国家 | 国际 |
领域 | 地球科学 |
正文(英文) | ![]() Oyu Tolgoi mine. Image courtesy of Turquoise Hill Resources
Turquoise Hill’s (NSYE: TRQ) stock tanked over 42% on Tuesday, after releasing its Q2 2019 report, revealing costs for the expansion of its Oyu Tolgoi mine could increase by up to $1.9 billion. The estimated cost was initially pegged at $5.3 billion. Oyu Tolgoi is the Vancouver-based company’s only asset. Turquoise Hill is owned 50.8% by mining giant Rio Tinto. Rio issued a separate statement Tuesday, saying difficult ground conditions could raise the estimated costs of the copper-gold mine’s expansion, and warning the project could be delayed potentially over two years. First production is now expected between May 2022 and June 2023. On a trading day that saw volume reach 49.8 million on the Nasdaq, nearly 10 times the average volume, Turquoise Hill’s value was pushed down to $1.2 billion. It is an all-time low for the company, whose market capitalization once sat at over $6 billion. |
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来源平台 | Minging.com |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/219653 |
专题 | 地球科学 |
推荐引用方式 GB/T 7714 | admin. Turquoise Hill’s stock tanks on Mongolia troubles. 2019. |
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