December 16, 2016 / 2:01 PM / in a year

BRIEF-Turquoise Hill announces 2017 production and financial guidance

Dec 16 (Reuters) - Turquoise Hill Resources -

* Lower production compared to 2016 result of about one-quarter less copper head grade, about one-half less gold head grade

* Capital expenditures for 2017 on a cash-basis are expected to be approximately $100 million for open-pit operations

* Continues to expect production from first underground draw bell in mid-2020,first sustainable production beginning early 2021

* Oyu Tolgoi expected to produce 130,000-160,000 tonnes copper and 100,000 to 140,000 ounces of gold in concentrates for 2017

* Operating cash costs for 2017 are expected to be approximately $720 million

* Capital expenditures for 2017 on a cash-basis are expected to be $825 million to $925 million for underground development

* Turquoise Hill announces 2017 production and financial guidance Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below