The company formerly known as Ivanhoe Mines
Ltd has started trading on the Toronto Stock Exchange under its new name and
ticker symbol: Turquoise Hill Resources Ltd.

The name change, approved by shareholders last month, was part of a deal
earlier this year that boosted Rio Tinto Plc”s stake in the Mongolia-focused
mining company to 51 percent.

Turquoise Hill holds a 66 percent stake in the massive Oyu Tolgoi
copper-gold project in the Central Asian country, with the remaining 34 percent
owned by the Mongolian government. The Mongolian words “oyu tolgoi”
mean “turquoise hill.”

Rio is Turquoise Hill”s largest investor and the operator on the project.

It is the latest move to distance the company from its founder, Robert
Friedland, who has had an often tumultuous relationship with the
Anglo-Australian mining giant.

Friedland was replaced as CEO in April, a few months after Rio took its
controlling stake. As of Aug. 1, he still held a 9.5 percent stake, according
to Thomson Reuters data.

Construction is nearly complete at the copper-gold mine and full commercial
production is expected in 2013.

Shares of the Vancouver-based company were down 0.3 percent at C$9.00 on
Wednesday morning on the Toronto Stock Exchange.

Aug 8 (Reuters)