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Turquoise Hill Resources Ltd. TRQ


Primary Symbol: T.TRQ

Turquoise Hill Resources Ltd is a global mining company that primarily mines copper, gold, and coal in the Asia-Pacific region. The company holds a 66% interest in Oyu Tolgoi, one of the world's largest copper-gold-silver mines, which ships concentrate to customers in China. Oyu Tolgoi is located in the South Gobi region of Mongolia, approximately 550 km south of the capital, Ulaanbaatar, and 80 km north of the Mongolia-China border. The company also holds interests in companies that mine...


TSX:TRQ - Post by User

Post by Whatr_udoingon Nov 27, 2013 10:06pm
254 Views
Post# 21948624

South Gobi Tax Evasion?

South Gobi Tax Evasion?

Seems to me that mgl got tax revenues too early and now they're afraid they might have to give a refund? Maybe the previous bunch got kickbacks and bonuses they didn't deserve? That's why good corporate governance should include clawback provisions. Good luck getting anything back from a corrupt politician. Instead they'll try to strong arm the existing business ventures into ponying up again for their licenses.
This is the kind of silliness that has given mgl a reputation as a bad place to do business.

The probe has been going on for over a year and includes the infamous travel ban. So why bring it up now during the Rights Offering? It points to one of the risks of doing business in mgl is having to deal with their corrupt and inept officials.

www.businessspectator.com.au/news/2013/11/28/resources-and-energy/rio-tinto-controlled-miner-corruption-probe-report

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