Finlay Minerals reports 2024 field work on its PIL property in British Columbia
Cascadia has met the year three exploration work requirements and the PIL option agreement remains in good standing.
Canadian miner Turquoise Hill Resources Ltd reported a 33.5% jump in second-quarter profit on Thursday, buoyed by a higher copper and gold output from the Oyu Tolgoi mine in Mongolia.
Prices of the red metal hit a record high in May, boosted by demand from electric-vehicle makers and other clean-energy investments. Bullion prices also rose in the second quarter as a weak dollar lifted its safe-haven appeal amid pandemic-related uncertainty.
Turquoise’s second-quarter copper production from Oyu Tolgoi stood at 36,735 tonnes, compared with 36,495 ounces last year. Its gold output more than tripled to 113,054 ounces.
Rio Tinto-controlled Turquoise Hill said income attributable to the owners of the company was $96.9 million, or 48 cents per share, for the three months ended June 30, compared with $72.6 million, or 36 cents per share, a year earlier.
Oyu Tolgoi is one of the world’s largest copper-gold-silver mines. Rio owns 51% of Turquoise Hill, which in turn owns 66% of the mine. The rest of the mine is owned by the government of Mongolia.
(By Rithika Krishna; Editing by Devika Syamnath)
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