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Turquoise Hill Announces Financial Results and Review of Operations for the First Quarter of 2017
May. 16, 2017 08:25AM PST
Base Metals Investing Turquoise Hill Resources (NYSE: TRQ) (NASDAQ: TRQ) (TSX: TRQ) today announced its financial results for the quarter ended March 31, 2017. All figures are in U.S. dollars unless otherwise stated. As quoted in the press release: HIGHLIGHTS Oyu Tolgoi achieved an All Injury Frequency Rate of 0.42 per 200,000 hours worked for the three months …
Turquoise Hill Resources (NYSE: TRQ) (NASDAQ: TRQ) (TSX: TRQ) today announced its financial results for the quarter ended March 31, 2017. All figures are in U.S. dollars unless otherwise stated.
As quoted in the press release:
HIGHLIGHTS
Oyu Tolgoi achieved an All Injury Frequency Rate of 0.42 per 200,000 hours worked for the three months ended March 31, 2017.
Underground lateral development, sinking of Shafts 2 and 5, support infrastructure and the convey-to-surface system all progressed during Q1’17.
Oyu Tolgoi spent $136.4 million on underground expansion during Q1’17 and awarded several large contracts during the quarter, with the largest for the decline material handling system.
Revenue of $237.5 million in Q1’17 was 5.7% higher than Q4’16 reflecting a higher average selling price for copper and higher volumes of copper in concentrates sold.
In Q1’17, the Company recorded net income attributable to owners of Turquoise Hill of $41.0 million or $0.02 per share.
