Turquoise Hill Resources Ltd. (TSX: T.TRQ
) said that the Oyu Tolgoi mine has commenced shipping copper concentrate.
The initial sale of approximately 5,800 tonnes of concentrate is being sent to customers in China.
According to the Turquoise Hill press release
, today, a convoy carrying approximately 600 tonnes of concentrate departed from the mine with the remainder of the shipment taking place over the next two weeks.
“The shipping of concentrate is a significant milestone in Oyu Tolgoi's development,” said Kay Priestly, Chief Executive Officer." It is gratifying to see the world-class mine continuing its ramp up and generating benefits for stakeholders and Mongolia.”
All permits and authorities required for on-going concentrate shipments are in place, including approvals by the Oyu Tolgoi LLC board.
Turquoise Hill, formerly Ivanhoe Mines, is an international mining company focused on copper, gold and coal mines in the Asia Pacific region.
On Tuesday, Turquoise Hill climbed 1.1% and was trading at $6.27 a share. The company had a market cap of $6.3 billion, based on one billion shares outstanding.