BUZZ-Turquoise Hill: Shares climb on approval for mine expansion

Fri May 6, 2016 11:41am EDT
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** Canadian miner's shares up 9 pct at C$3.75; U.S.-listed shares up 8.4 pct at $2.89

** U.S. stock rises as much as 12.7 pct, its biggest intraday percentage gain in more than 3-1/2 yrs

** Company's parent, Rio Tinto Plc , and its partners give the final approval for a $5.3 bln expansion of the Oyu Tolgoi copper mine, in which Turquoise Hill owns a 66 pct share

** The expansion will help the Mongolian mine become the world's third-largest copper mine

** Up to Thursday's close, Turquoise Hill's Toronto stock had fallen nearly 35 pct in 12 months; U.S. stock had fallen nearly 39 pct