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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

Comment by msillusionon Aug 16, 2013 2:00pm
162 Views
Post# 21676821

RE:Confederation of Mongolian Trade Unions rattles the cage

RE:Confederation of Mongolian Trade Unions rattles the cageHe said. She said...
https://www.infomongolia.com/ct/ci/6484
OYU TOLGOI LLC HAS ANNOUNCED THEY WILL NOT BE FIRING WORKERS
August 15, 2013
The decision made by Board Members of "Oyu Tolgoi" LLC to stop the underground expansion of the Oyu Tolgoi mine during their meeting on August 12 had caused quite a commotion.
In connection to this news, medias are reporting that the managers of Oyu Tolgoi have been meeting with underground workers since Tuesday and some workers have been released from their jobs. Most of the underground mining workers are contract workers from Redpath Mongolia LLC. Over 90% of the 1,000 workers from the company are Mongolians.
It is unclear how many people will lose their jobs and Head of the Oyu Tolgoi public relations department Ts.Ganzorig made statement saying, “Our stockholders held a meeting on August 12 and made the decision to stop the Oyu Tolgoi underground expansion until the financial matters are resolved. Therefore, the Government will probably make a decision in the near future after talking with Rio Tinto.
However, there was news in the media saying “Oyu Tolgoi has fired 1,700 workers”. This is false information. We have developed a plan and are implementing it to resolve this matter. This plan includes transferring the workers to other posts. In other words, Oyu Tolgoi did not fire 1,700 workers. The underground mining workers are all highly trained, professional people. Our company spent time and money to train them. Therefore, if the stockholders resolve the issue, we will rehire them within 6 months”.
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