Recently, Turquoise Hill Resources Ltd (NYSE:TRQ) announced very strong growth in its output and also that its grades had improved at the company’s massive mine in Mongolia called the Oyu Tolgoi copper & gold mine. In a statement, Turquoise Hill Resources Ltd (NYSE:TRQ)said that Oyu Tolgoi had produced 76,700 tons of copper concentrates in 2013, after its Q4 production topped the Q3 production by 8%. There was an 18% rise in gold concentrate output,to 74,000 ounces and 208,000 silvery ounces were produced. There was an improvement in mill head graded right across the board and the recovery rates were also healthy.

There was a rise from 73% in the 1H2013 to 86% in the company’s copper recovery rates. However, Turquoise Hill Resources Ltd (NYSE:TRQ) said that shipments have not yet got aligned with the production rates and that the company has been building its inventories. The company had announced full-year 2014 output targets to be in the range of 150,000 tons-to 175,000 tons of copper-concentrates and 700,000-750,000 ounces of gold concentrates. Turquoise Hill Resources Ltd (NYSE:TRQ) has still not revised these figures.

Turquoise Hill Resources Ltd (NYSE:TRQ) owns a 66% stake in Oyu Tolgoi located in the Gobi Desert that is near Mongolia’s China boarder, with the government of latter nation holding the rest. Turquoise Hill Resources Ltd (NYSE:TRQ) is controlled by Rio Tinto (LON:RIO), the Anglo-Australian giant. Rio Tinto has continued to keep its majority stake in TRQ at 50.8% post the successful completion of its $2.4B rights issue. Turquoise Hill Resources Ltd (NYSE:TRQ) said that its rights-issue was over-subscribed.

Rio Tinto, Turquoise Hill Resources Ltd (NYSE:TRQ)’s largest shareholder and the Oyu Tolgoi’s project operator, said that it had spent 1.29b Canadian dollars, or $1.19B to maintain its stake in Turquoise Hill Resources Ltd (NYSE:TRQ). It did not buy any additional shares as part of the standby-agreement as the rights-issue was fully subscribed said Turquoise Hill Resources Ltd (NYSE:TRQ).