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BRIEF-Oyu Tolgoi Gets Notification Government Of Mongolia Canceled Power Sector Cooperation Agreement

Published 2018-02-15, 07:04 p/m
© Reuters.  BRIEF-Oyu Tolgoi Gets Notification Government Of Mongolia Canceled Power Sector Cooperation Agreement
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Feb 15 (Reuters) - Turquoise Hill Resources Ltd TRQ.TO :

* OYU TOLGOI NOTIFIED OF GOVERNMENT OF MONGOLIA'S CANCELLATION OF POWER SECTOR COOPERATION AGREEMENT

* TURQUOISE HILL RESOURCES LTD - OYU TOLGOI RECEIVED NOTIFICATION GOVERNMENT OF MONGOLIA CANCELED POWER SECTOR COOPERATION AGREEMENT SIGNED IN 2014

* TURQUOISE HILL RESOURCES - GOVT'S CANCELLATION, UNDER SECTION 1.3 OF PSCA, INDICATES THAT TAVAN TOLGOI POWER PROJECT IS NO LONGER A VIABLE OPTION

* TURQUOISE HILL RESOURCES - EFFECTIVE FEB 15, 2018 LONG-TERM POWER FOR OYU TOLGOI MUST BE DOMESTICALLY SOURCED WITHIN FOUR YEARS

* TURQUOISE HILL RESOURCES - A FINAL DECISION ON OUTCOME, COST OR FINANCING OF A PERMANENT DOMESTIC POWER SUPPLY HAS NOT BEEN CONCLUDED AT THIS TIME

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