page_title: Turquoise Hill Resources
section_title: Coal
hierarchical_section_title: Turquoise Hill Resources / Developments by product / Coal
caption_attribution_description: A coal mine in Hailar, Inner Mongolia, China.
context_page_description: Turquoise Hill Resources is a Canadian mineral exploration and development company headquartered in Montreal, Quebec, a majority-owned subsidiary of Rio Tinto Group. Its principal and only material mineral resource interest is a 66% share of the Oyu Tolgoi Copper-Gold Mine in Southern Mongolia 200 km east of Dalanzadgad. The company was called Ivanhoe Mines until August 2, 2012 when a financing agreement was completed with Rio Tinto.
  The Oyu Tolgoi Project is considered one of the world's largest copper and gold porphyry deposits. For development to happen at Oyu Tolgoi, an agreement had to be made in which the Mongolian government took a 34% stake in the project; the royalty arrangement it currently has with the Mongolian government took years to reach which caused significant delays in project development.
  In Australia, Turquoise Hill Resources has stakes in mines containing gold, uranium, copper and the world's highest grade molybdenum and rhenium.
  In Mongolia the company controls several other gold and copper mine development projects.
context_section_description: Nariin Sukhait (Ovoot Tolgoi, flagship coal mine that is already producing, 114.1 million tonnes in reserves), and two development projects, the Soumber Deposit (55.5 million tonnes in reserves) and the Ovoot Tolgoi Underground Deposit.  Ivanhoe exited these operations on April 2, 2012 when it sold its 57.6% interest in SouthGobi Resources Inc to Chalco for $889 million.
caption: Ivanhoe developed many other mines in Mongolia including Ovuut Tolgoi coal mine.[33]
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