File photo of workers preparing the site of the second mine shaft at Oyu Tolgoi in the South Gobi desert in Mongolia.© Staff Photographer / Reuters/Reuters
The company formerly known as Ivanhoe Mines Ltd. had a $285.9-million net loss in its second quarter. The loss at Turquoise Hill Resources was equal to 35 cents per share and compared with net income of $600,000 or zero cents per share a year earlier.
The company, now majority-owned by Anglo-Australian mining giant Rio Tinto PLC, is completing Phase 1 construction of its Oyu Tolgoi copper mine in Mongolia.