Canadian miner Turquoise Hill Resources Ltd on Wednesday beat estimates for first-quarter profit, helped by increased production of copper and gold at its Oyu Tolgoi mine in Mongolia and higher commodity prices.
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By Reuters Staff
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May 12 (Reuters) - Turquoise Hill Resources Ltd posted a more than five-fold rise in quarterly profit on Wednesday, as the Canadian miner was helped by increased production of copper and gold at its Oyu Tolgoi mine in Mongolia.
Rio Tinto-controlled Turquoise Hill said income attributable to owners of the company was $236.7 million, or $1.18 per share, for the three months ended March 31, compared with $45.2 million, or 22 cents per share, a year earlier. (Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)