Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Canadian miner Turquoise Hill Resources (TRQ) expects to produce 160,000-180,000mt of copper concentrate in 2021 from its Oyu Tolgoi mine in South Gobi, Mongolia.


TRQ produced 149,600mt of copper concentrate from the mine in 2020, up by 2.3pc from 146,300mt in 2019. However, sales declined by 8pc in volume to 137,800mt in the same period under comparison. 


In Q4 2020, copper production increased by 26.4pc to 41,600mt compared with 32,900mt in the same period in 2019. Sales also rose by 17.3pc to 37,900mt during this quarter from a year ago.


During the full year 2020, the company’s revenue fell by 7.5pc to $1.07bn from $1.16bn in 2019. In the last quarter of 2020, revenue shot up by 83pc to $405mn from $221mn in Q4 2019. 


TRQ posted an income of $494.6mn for the full year 2020, compared to a loss of $477mn in the prior year. During Q4 2020, income doubled to $241.6mn from $109.5mn a year ago. 

Leave a Reply

Your email address will not be published.