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Turquoise Hill Resources

Turquoise Hill Resources
Leadership team

Mr. Steve Thibeault BA (Acc), CMA (Interim CEO & Non-Independent Director)

Mr. Luke Colton (Chief Financial Officer)

Ms. Jo-Anne Dudley (Chief Operating Officer)

Products/ Services
Mineral, Mining, Precious Metals
Number of Employees
1,000 - 20,000
Headquarters
Montreal, Quebec, Canada
Established
1994
Company Registration
SEC CIK number: 0001158041
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
TRQ
Social Media
Overview
Location
Summary
Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company primarily explores for copper, gold, and silver deposits. It engages in the operation and development of the Oyu Tolgoi copper-gold mine located in Southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd. in August 2012. Turquoise Hill Resources Ltd. was incorporated in 1994 and is headquartered in Montreal, Canada. Turquoise Hill Resources Ltd. operates as a subsidiary of Rio Tinto Group.
History

2000 - In December ABM Mining was merged into Ivanhoe Mines. At the time Ivanhoe's main assets included 50% of Myanmar's Monywa Copper Project ; that year production by both companies totalled 13,350 tonnes for copper, 2 million tonnes for iron ore pellets and 48,000 tones for iron ore concentrate. ABM Mining was founded in 1997 and remained a privately held company until the merger.2002 - Subsidiary ABM Mining purchased all of the outstanding debt associated with the Savage River iron ore project in Tasmania, Australia giving ABM Mining a priority claim on the project's assets.2005 - Savage River Project sold to Stemcor Holdings Limited of London for up to US$170 million. The spinoff was part of the company's efforts to shift focus to Oyu Tolgoi .2007 - In May the company sold all of its coal projects including Ovoot Tolgoi to Asia Gold Corp ; as part of the transaction Asia Gold gave Ivanhoe Mines over 80 million more shares of the company raising its interest in it from 45% to a majority stake. Later in October Rio Tinto helped Ivanhoe gain access to a $350 million credit facility which Oyu Tolgoi needed for further development.

2008 - In January Ivanhoe Mines raised $117.9 million through a series of private placements one of which increased its interest in SouthGobi . Also that month the newly discovered Heruga Deposit at Oyu Tolgoi was for the first time officially acknowledged as having a substantial resource of copper, gold and molybdenum. Three months later, in April the government approved the Ovoot Tolgoi project allowing Ivanhoe to begin production in the southern portion . In May it sold its majority interest in Jinshan Gold Mines for C$216.7 million. Later that summer Ivanhoe's Australian subsidiary went public with a A$125 million IPO and Rio Tinto helped the Oyu Tolgoi project acquire certain equipment. Ivanhoe Australia was floated on the ASX exchange with Ivanhoe Mines owning 80% of it.2009 - Ivanhoe finally reached an agreement with the Mongolian Government on its share in Oyu Tolgoi, taxes as well as Ivanhoe's responsibilities when it comes to the environment and job opportunities for local people. In October Rio Tinto bought 46.3 million common shares for $388 million. In November the China Investment Corporation invested US$500 in SouthGobi in the form of a convertible debenture.

2010 - January - SouthGobi raised C$459 million by going public on the Hong Kong Stock Exchange. In March $250 million of the $500 million China Investment Corporation debenture was converted into SouthGobi common shares; the move lowered Ivanhoe's interest in it to 57%. Also that year, Rio Tinto promised that it will not make any attempts to take over Ivanhoe Mines before October 18, 2011 .2012 - April - Ivanhoe Mines sells its 57.6% share of SouthGobi Resources to Chalco for $889 million. The decision came partly as a result of pressure from Ivanhoe's largest shareholder Rio Tinto to sell non core assets. However, the Mongolian government asked that work be stopped at the company's Ovoot Tolgoi mine. On July 31, 2012 Rio Tinto purchased $935 million worth of Ivanhoe shares putting its total interest in the company at 51%. To obtain the additional funding, it was required that Ivanhoe Mines change its name and that founder Robert Friedland resign as CEO. Six of the senior board members also resigned however they didn't include former CEO John Maken who became company president.

2013 – June - Turquoise Hill Resources announced it had secured a $225-million non-revolving bridge facility from majority shareholder Rio Tinto.

Mission
Our vision is to build an industry-leading mining and exploration company that creates long-term value for all its stakeholders.
Vision
Our mission is to responsibly develop and operate mining and exploration projects, with a focus on safety, environmental and social responsibility, while delivering strong returns to our shareholders.
Key Team

Mr. Dustin Sean Isaacs (Chief Legal Officer & Corp. Sec.)

Mr. Roy McDowall (VP of Investor Relations & Communications)

Recognition and Awards
Turquoise Hill Resources has been recognized several times for its commitment to environmentally responsible mining. In 2013, the company won the Placer Dome Award for sustainability from the Mining Association of Canada and the National Orca Award for Sustainable Mining from the Prospectors and Developers Association of Canada.
References

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Turquoise Hill Resources
Leadership team

Mr. Steve Thibeault BA (Acc), CMA (Interim CEO & Non-Independent Director)

Mr. Luke Colton (Chief Financial Officer)

Ms. Jo-Anne Dudley (Chief Operating Officer)

Products/ Services
Mineral, Mining, Precious Metals
Number of Employees
1,000 - 20,000
Headquarters
Montreal, Quebec, Canada
Established
1994
Company Registration
SEC CIK number: 0001158041
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
TRQ
Social Media