Turquoise Hill Sells Interest in Altynalmas Gold for $300 Million

Turquoise Hill Resources (TSX:TRQ, NYSE:TRQ, NASDAQ:TRQ) announced that it has sold their interest in Altynalmas Gold Ltd to Sumeru for $300 million.

As quoted in the press release:

Altynalmas, a private company, holds 100% ownership of the Kyzyl Gold Project in north-eastern Kazakhstan. The Kyzyl Gold Project contains the Bakyrchik and Bolshevik gold deposits. Turquoise Hill acquired an interest in the project in 1996 and acquired its stake in Altynalmas in 2008.

To view the whole press release, click here.