The company formerly known as Ivanhoe Mines Ltd. had a $285.9-million US net loss in its second quarter as it worked toward getting a massive copper and gold mine in Mongolia into commercial production next year. The loss at Turquoise Hill Resources was equal to 35 cents per share and compared with net income of $600,000 or zero cents per share a year earlier. The 91原创headquartered company, now majority-owned by Anglo-Australian mining giant Rio Tinto PLC, says the first phase of building the mine was 90 per cent completed by the end of June. It says the final cost of Phase 1 is expected to be US$6.2 billion, which is three per cent over the initial budget, excluding the impact of foreign exchange.
