May 12, 2017 08:00 ET
Turquoise Hill Resources Ltd.: Oyu Tolgoi signs new power purchase agreement
VANCOUVER, BC--(Marketwired - May 12, 2017) - Turquoise Hill Resources (NYSE: TRQ) (NASDAQ: TRQ) (TSX: TRQ) today announced that Oyu Tolgoi LLC has signed a new power purchase agreement (PPA) with the National Power Transmission Grid (NPTG) of Mongolia. The PPA was executed in connection with the power import arrangement between NPTG and the Inner Mongolia Power International Corporation (IMPIC). The new arrangement takes effect on July 4, 2017, subsequent to the expiry of the existing IMPIC agreement, for a term of up to six years, with possibility of early cancelation after the fourth year, if a domestic power plant is commissioned earlier.
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May 10, 2017 09:43 ET
Rio Tinto Receives Shares of Mason Resources Corp.
LONDON, UNITED KINGDOM--(Marketwired - May 10, 2017) - Rio Tinto plc ("Rio Tinto") announced that, pursuant to a plan of arrangement (the "Arrangement") between Entrée Resources Ltd. (formerly Entrée Gold Inc.) ("Entrée") and Mason Resources Corp. ("Mason Resources"), Rio Tinto International Holdings Limited, a wholly owned subsidiary of Rio Tinto, received 7,455,058 common shares of Mason Resources ("Mason Shares"), representing approximately 9.58% of the number of Mason Shares outstanding after giving effect to the Arrangement.
Rio Tinto also indirectly owns approximately 50.8% of the issued and outstanding common shares of Turquoise Hill Resources Ltd. ("Turquoise Hill"), and is therefore deemed to have indirect beneficial ownership over an aggregate of 6,209,699 Mason Shares received by Turquoise Hill pursuant to the Arrangement, representing approximately an additional 7.98% of the number of Mason Shares outstanding after giving effect to the Arrangement.