Friday, May 16, 2014

Turquoise Hill Considers Sale of SouthGobi Coal Unit

Vancouver-based Turquoise Hill Resources is considering the sale of its stake in SouthGobi Resources Ltd. (SGQ), Kay Priestly, chief executive of Turquoise Hill, said during a conference call on Tuesday.

* Turquoise Hill owns 56% stake of SouthGobi * SouthGobi’s flagship asset is the Ovoot Tolgoi mine, located 40km north of the Mongolia-China border. * Oyu Tolgoi remains co’s main focus: Priestly * SouthGobi CEO Ross Tromans declined to comment on the issue in a phone interview today.

To contact the reporter on this story: Michael Kohn in Ulaanbaatar at mkohn5@bloomberg.net
To contact the editors responsible for this story: Jason Rogers at jrogers73@bloomberg.net

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