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Turquoise Hill Resources said on Tuesday that shipments to China had partially resumed at the Oyu Tolgoi mine in Mongolia after the Canadian miner announced force majeure on some of its contracts due to COVID-19
.
The company is assessing a number of contingencies, including responding to force majeure through alternative transport routes in Mongolia's capital, Ulaanbaatar, which refers to unexpected external factors
that prevent a party from fulfilling its contractual obligations.
Force majeure at Turquoise Hill Resources is linked
to the coronavirus-related lockdown at the China-Mongolia border crossing.
The company resumed some shipments
to China on April 15.
Oyu Tolgoi, the world's largest copper, gold and silver mine, has become at the center of a protracted dispute between Turquoise and Rio Tinto, its largest shareholder, over funding the
mine's underground expansion.
Turquoise said it would continue talks
with Rio Tinto and the Mongolian government after reaching a binding agreement on the funding dispute two weeks ago.
Rio Tinto owns 51 per cent of Turquoise Hill, which owns 66 per cent of the Oyu Tolgoi mine
.
The remaining shares in the mine are owned
by the Mongolian government.
Turquoise Hill Resources said on Tuesday that shipments to China had partially resumed at the Oyu Tolgoi mine in Mongolia after the Canadian miner announced force majeure on some of its contracts due to COVID-19
.
The company is assessing a number of contingencies, including responding to force majeure through alternative transport routes in Mongolia's capital, Ulaanbaatar, which refers to unexpected external factors
that prevent a party from fulfilling its contractual obligations.
Force majeure at Turquoise Hill Resources is linked
to the coronavirus-related lockdown at the China-Mongolia border crossing.
The company resumed some shipments
to China on April 15.
Oyu Tolgoi, the world's largest copper, gold and silver mine, has become at the center of a protracted dispute between Turquoise and Rio Tinto, its largest shareholder, over funding the
mine's underground expansion.
Turquoise said it would continue talks
with Rio Tinto and the Mongolian government after reaching a binding agreement on the funding dispute two weeks ago.
Rio Tinto owns 51 per cent of Turquoise Hill, which owns 66 per cent of the Oyu Tolgoi mine
.
The remaining shares in the mine are owned
by the Mongolian government.
