Turquoise Hill Resources sells 50% interest in Altynalmas Gold to Sumeru Gold for US$235 million
Date Closed
August 3, 2013
Lead Office
Toronto
Value
235.00 Million USD
On August 13, 2013, Turquoise Hill Resources sold its 50% interest in Altynalmas Gold to Sumeru Gold for cash consideration of US$235 million. Altynalmas Gold, a private company, holds 100% ownership of the Kyzyl Gold Project in northeastern Kazakhstan, which contains the Bakyrchik and Bolshevik gold deposits.
Turquoise Hill Resources, headquartered in Vancouver, British Columbia, is a mineral exploration and development company.
McCarthy Tétrault LLP acted as Canadian counsel to Turquoise Hill Resources as seller. The team was led by Shea Small and included Roger Taplin, Patrick Deutscher, Paul Steep, Shane D’Souza, Fred Harvey, Ryan Rabinovitvh, and Don Houston.