2021-01-18 18:17:56 TRQ Turquoise Hill
01/18/21 01/1818:17 01/18/2118:17 | Turquoise Hill reports 2020 copper production of149,631 tonnesTurquoise Hill Resources announced Q4 production for Oyu Tolgoi, as well as operational and financial guidance for 2021. The company said work on the Oyu Tolgoi project "has continued to progress despite COVID-19 controls and ongoing travel restrictions implemented by the Government of Mongolia. Although expatriates started to return to Mongolia from July through December 2020, COVID-19 cases in-country have resulted in increased restrictions on both domestic and international travel." It also reported 2020 year copper production of 149,631 tonnes versus the original guidance range of 140,000 - 170,000 tonnes. Full year gold production was 181,858 ounces versus original guidance range of 120,000 - 150,000 ounces. For 2021, Oyu Tolgoi is expected to produce 160,000 to 180,000 tonnes of copper and 500,000 to 550,000 ounces of gold in concentrates in 2021 from processing of both open pit and underground development material. Operating cash costs for 2021 are expected to be $800M to $850M. |
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