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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 wawahunton Oct 25, 2012 6:49pm
293 Views
Post# 20525240

I know you are but what am I .....

I know you are but what am I .....

MP S.Ganbaatar to Sue the Mining Association of Mongolia
October 24, 2012
MP S.Ganbaatar held a press conference today to announce he is suing N.Alagaa, the head of the Mining Association of Mongolia.  He said that “Mongolians should understand the OyuTolgoi Investment Agreement because every Mongolian has doubts about the Agreement.  We insist that the Government works until the OyuTolgoi Investment Agreement is changed. I called Deputy Speaker S.Bayartsogt, who signed the Agreement, to have an open debate.”

S.Ganbaatar accused N.Alagaa of saying that “S.Ganbaatar is being driving by an invisible man” and of publishing the false statement “He could not overcome with the mining acquirement” on press. S.Ganbaatar said “it is right to confirm whether or not someone drives me invisibly by suing N.Alagaa, the head of Mining Association of Mongolia inSukhbaatar District Court.”

He then said “Rio Tinto and OyuTolgoi are members of the Mining Association of Mongolia. Therefore, the Mining Association of Mongolia is financially backed by them. The OyuTolgoi Investment Agreement is unfair.  The Agreement in the English language and Mongolian language are totally different.  Much has gone wrong with the Agreement and S.Bayartsogt’s comments have changed a lot since the signing.

It is unfair that the Mining Association of Mongolia defends foreign investor’s interests by slighting others. I sued N.Alagaa, the head of Mining Association of Mongolia, so such things do not happen again.  One example that proves the Mining Association of Mongolia is financially backed by Rio Tinto and OyuTolgoi is that recently dozens of staff visited Australia to see different mining sectors.”

MP S.Ganbaatar said that the open debate on the OyuTolgoi Investment Agreement with S.Bayartsogt was supposed to be on October 7th, but, S.Bayartsogt said that it was not possible to have the debate before he went abroad for an appointment.  MP S.Ganbaatar said that he hoped there would be media present during the debate.

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