Turquoise Hill Comments on review of Oyu Tolgoi
Turquoise Hill Resources has commented on recent media reports regarding a consulting report addressing the cost and schedule extension at the Mongolian mine.
The mine is co-owned by Turquoise Hill, Erdenes Oyu Tolgoi (a state-owned entity) and Rio Tinto. Last year, a group of consultants called The Independent Consulting Group (ICG) was hired to conduct a review of spiralling costs on behalf of Turquoise Hill and Erdeness.
Turquoise says, ‘The ICG Report raises certain questions in relation to the project management process surrounding the increase in cost and schedule extension and suggests that changes in geotechnical parameters did not contribute significantly thereto.’
