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BRIEF-Turquoise Hill Provides Update On The Tax Arbitration And Discussions With The Government Of Mongolia And Proposed Class Action

Published 12/01/2021, 12:43 am
Updated 12/01/2021, 12:48 am
© Reuters.
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Jan 11 (Reuters) - Turquoise Hill Resources Ltd TRQ.TO :

* TURQUOISE HILL PROVIDES AN UPDATE ON THE TAX ARBITRATION AND DISCUSSIONS WITH THE GOVERNMENT OF MONGOLIA AND PROPOSED CLASS ACTION

* TURQUOISE HILL- OYU TOLGOI TO APPLY TO TRIBUNAL IN ARBITRATION FOR LEAVE TO AMEND CLAIM STATEMENT TO INCLUDE ISSUES RAISED IN 2016-18 TAX ASSESSMENT

* TURQUOISE HILL RESOURCES LTD - TURQUOISE HILL REMAINS OF VIEW THAT OYU TOLGOI LLC HAS PAID ALL TAXES AND CHARGES REQUIRED

* TURQUOISE HILL - MONGOLIA HAS ADVISED RIO TINTO THAT IT IS DISSATISFIED WITH RESULTS OF DEFINITIVE ESTIMATE RELATED TO OYU TOLGOI PROJECT

* TURQUOISE HILL- MONGOLIA INDICATED THAT IF OYU TOLGOI PROJECT IS NOT ECONOMICALLY BENEFICIAL, IT WOULD BE NECESSARY TO EVALUATE WHETHER IT CAN PROCEED

* TURQUOISE HILL - MONGOLIA EXPRESSED INTENTION TO INITIATE DISCUSSIONS WITH RESPECT TO TERMINATION, REPLACEMENT OF MINE DEVELOPMENT, FINANCING PLAN

* TURQUOISE HILL RESOURCES LTD - COMMITTED TO ENGAGING IMMEDIATELY WITH GOVERNMENT OF MONGOLIA AND RIO TINTO TO ADDRESS PLAN

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