Monday, July 29, 2013

[BREAKING: OT needs parliament approval for project financing, underground development delayed till then]

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Turquoise Hill Provides Update on Oyu Tolgoi Project Financing Approval Process

VANCOUVER, CANADA--(Marketwired - July 28, 2013) - Turquoise Hill Resources (TSX:TRQ)(NYSE:TRQ)(NASDAQ:TRQ) announced that the company has received notification from the Government of Mongolia that project financing for Oyu Tolgoi will now require approval by the Mongolian Parliament.

Turquoise Hill continues to engage with Rio Tinto and the Government of Mongolia to finalize project financing. Due to the need for parliamentary approval, it is likely to take some time to gain the necessary consent. As a result, funding and development of the Oyu Tolgoi underground will be delayed until matters with the Mongolian Government can be resolved and a new timetable has been agreed.

Operations of the open-pit mine, commissioning of the concentrator and the ongoing export of concentrate from Oyu Tolgoi will continue.

Link to release



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