February 6, 2013

Rio Tinto Grinds Gears In Mongolia; Turquoise Hill Stumbles - Seeking Alpha

Rio Tinto Grinds Gears In Mongolia; Turquoise Hill Stumbles - Seeking Alpha: "The ore concentrator was inaugurated late in December with fanfare including statements by Mongolia's president and mining director who invoked the legacy of their ancestors and good of the people. Reports on those events sent TRQ's share price up 35% in two weeks before news of Mongolia yet again seeking more royalties (i.e. welfare) gave it nearly all back. On January 30, as prices plunged the exchanges halted trading even as the world's second largest miner, Anglo-Australian Rio Tinto (RIO), denied a Bloomberg report of contract disputes and affirmed that the agreement was solid. Still, shares subsequently sank to $7.66 at the close of trading February 01 while major indices extended the secular triple top and resumed their push toward all-time highs. On Monday Feb. "

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