Earnings per share of Turquoise Hill Resources, the Oyu Tolgoi investor, surpassed analyst’s forecast and reached 3 cents.In addition, the sales income in forth quarter reached $ 251.7 million. In 2017, sales income decreased by 21.9 percent from 2016 and reached $ 939.8 million. This is due to a decreased concentration of copper and gold in Oyu Tolgoi’s output. In 2017, Oyu Tolgoi’s operating costs totaled $ 711.6 million, which fell around 8 percent comparing to 2016. The company has taken several measures in order to cut costs. Turquoise Hill Resources is planning to spend $ 150 million on open pit mining and $ 1.1-1.2 billion dollars on underground minig development in 2018. Thus, Oyu Tolgoi’s copper output will reach 125-155 thousand tonnes and gold output will reach 201-280 thousand ounces in 2018, according to Turquoise Hill Resources.

Source: BloombergTV.mn