BUZZ-Turquoise Hill Resources: To sell stake in SouthGobi Resources

Wed Jul 30, 2014 9:30am EDT
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** Canadian miner's U.S.-listed shares down 3.4 pct at $3.43

** Turquoise Hill says will sell stake in coal miner SouthGobi Resources Ltd to National United Resources Holdings Ltd for C$25.5 million

** Company has 29.95 pct stake in SouthGobi Resources

** SouthGobi, with operations in Mongolia, said in March it could default on debt repayment and was looking to raise money

** SouthGobi stock declined about 40 pct in last 12 months up to Tuesday's close on the Toronto Stock Exchange