Turquoise Hill Says Oyu Tolgoi Project Financing Requires Approval by Mongolian Parliament

Turquoise Hill Resources

announced that the company has received notification from the Government of Mongolia that project financing for Oyu Tolgoi will now require approval by the Mongolian Parliament.Turquoise Hill continues to engage with Rio Tinto and the Government of Mongolia to finalize project financing. Due to the need for parliamentary approval, it is likely to take some time to gain the necessary consent. As a result, funding and development of the Oyu Tolgoi underground will be delayed until matters with the Mongolian Government can be resolved and a new timetable has been agreed.Operations of the open-pit mine, commissioning of the concentrator and the ongoing export of concentrate from Oyu Tolgoi will continue.About Turquoise Hill Resources Turquoise Hill Resources

, formerly Ivanhoe Mines, is an international mining company focused on copper, gold and coal mines in the Asia Pacific region. The company's primary operation is its 66% interest in the Oyu Tolgoi copper-gold-silver mine in southern Mongolia. Other assets include a 58% interest in Mongolian coal miner SouthGobi Resources

(HK:1878); a 57% interest in copper-gold miner Inova Resources

, formerly Ivanhoe Australia; and a 50% interest in Altynalmas