viewTurquoise Hill Resources Ltd

Turquoise Hill files notice of dispute with Mongolian government, challenges tax claims


Turquoise Hill Resources Ltd. (TSE:TRQ), the Canadian mineral exploration company focused on the Asia Pacific region, filed a notice of dispute with the government of Mongolia, after tax authorities in Central Asian country claimed unpaid taxes and penalties related to the development of the Oyu Tolgoi copper and gold mine.

Turquoise Hill, which owns 66 percent of Oyu Tolgoi, said it strongly disagrees with the claims that are contained in the audit report, and believes the mine has paid all legally required taxes and charges.

The company said today that the filing is the first step in the dispute-resolution process and includes a 60-day negotiation period. 

Rio Tinto-controlled Turquoise Hill said the distribution of the underground feasibility study will be delayed as outstanding shareholder issues, including tax claims, must be resolved before further investment in the underground can proceed.

Shares skidded 0.1 percent to C$3.65 at 10:15 a.m. in Toronto. The stock has lost 37 percent over the past year.


Quick facts: Turquoise Hill Resources Ltd

Price: 1 CAD

Market: TSX
Market Cap: $2.01 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Fertoz continues to plan for the future despite extremely...

Fertoz Ltd (ASX: FTZ) Executive Chairman Patrick Avery joined Steve Darling from Proactive Vancouver on Skype to discuss what has been a very tough weather year for the company. Even with that, Avery says the company has been very busy this year signing a number of distribution...

3 days, 13 hours ago

2 min read