RTTNews | Jul 16, 2021 10:06AM EDT

10:06 Friday, July 16, 2021 (RTTNews.com) - Shares of Turquoise Hill Resources Ltd. (TRQ) are slipping over 12% on Friday morning after the company reported its second-quarter production for Oyu Tolgoi LLC and provided an update on the Oyu Tolgoi mine.

TRQ is currently trading at $14.15, down $2.03 or 12.55%, on the NYSE.

Turquoise said that in second quarter open pit mining activities were impacted by personnel shortages due to COVID-19 restrictions, which resulted in an increase of lower-grade stockpile material being processed during the quarter.

Second-quarter mill throughput was impacted by reduced personnel numbers due to COVID-19 in addition to planned maintenance activities. Consequently, second quarter mill throughput of 9.4 million tons was 2% lower than last year and 4% lower than previous quarter.

Read the original article on RTTNews ( https://www.rttnews.com/3209708/turquoise-hill-resources-down-12-on-production-results.aspx)

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