January 18, 2018 / 3:25 AM / a year ago

Turquoise Hill says Oyu Tolgoi declares force majeure due to border protests

Jan 17 (Reuters) - Turquoise Hill Resources said that Oyu Tolgoi, a copper and gold mine in the southern Gobi Desert, has declared force majeure in connection with customer contracts for concentrate due to a protest by Chinese coal transporters in the Ganqimaodu Border Zone.

Protesters used vehicles to obstruct the main access road in China leading to the Chinese-Mongolian border, resulting in Oyu Tolgoi convoys being unable to deliver concentrates to customers, the Vancouver-based company said.

The force majeure is not expected to have any impact on production, the company said on Wednesday.

Anglo Australian miner Rio Tinto has a 66 percent shareholding in Oyu Tolgoi.

Rio holds the stake indirectly through a majority ownership of Turquoise Hill Resources. The Mongolian government owns the remaining 34 percent. (Reporting by Philip George in Bengaluru; Editing by Sunil Nair)

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