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BRIEF-Turquoise Hill announces 2017 production and financial guidance

Published 2016-12-16, 08:51 a/m
© Reuters. BRIEF-Turquoise Hill announces 2017 production and financial guidance
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Dec 16 (Reuters) - Turquoise Hill Resources TRQ.TO -

* Lower production compared to 2016 result of about one-quarter less copper head grade, about one-half less gold head grade

* Capital expenditures for 2017 on a cash-basis are expected to be approximately $100 million for open-pit operations

* Continues to expect production from first underground draw bell in mid-2020,first sustainable production beginning early 2021

* Oyu Tolgoi expected to produce 130,000-160,000 tonnes copper and 100,000 to 140,000 ounces of gold in concentrates for 2017

* Operating cash costs for 2017 are expected to be approximately $720 million

* Capital expenditures for 2017 on a cash-basis are expected to be $825 million to $925 million for underground development

* Turquoise Hill announces 2017 production and financial guidance Source text for Eikon: ID:nMKWblmXfa Further company coverage: TRQ.TO

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