Turquoise Hill Pulls In $300M In Kazakh Mine Stake Sale

Law360, New York (February 13, 2013, 7:00 PM EST) -- Canadian mining company Turquoise Hill Resources Ltd. has sold its 50 percent interest in a potentially lucrative Kazakhstan gold mine development to Sumeru Gold BV for $300 million, Turquoise Hill announced Wednesday.

The companies agreed on a deal to transfer Turquoise Hill's interests in Altynalmas Gold Ltd., the owner of the Kyzyl gold project in northeastern Kazakhstan, Turquoise Hill said. The deal is subject to Kazakhstan regulatory approval, among other conditions and is expected to close in the second quarter of 2013.

Turquoise Hill, which is...
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