Notice of Lead Plaintiff Deadline for Shareholders in the Turquoise Hill Resources Ltd. Class Action Lawsuit

Robbins Geller Rudman & Dowd LLP announces that a class action lawsuit has been filed in the Southern District of New York on behalf of purchasers or acquirers of Turquoise Hill Resources Ltd. (NYSE:TRQ) securities between July 17, 2018 and July 31, 2019, inclusive (the “Class Period”). The case is captioned Franchi v. Turquoise Hill Resources Ltd., No. 20-cv-08585, and is assigned to Judge Lewis J. Liman. The Turquoise Hill class action lawsuit charges Turquoise Hill, certain of its executives, as well as Rio Tinto PLC, Rio Tinto Limited and Rio Tinto International Holdings, Inc. (together, “Rio Tinto”), and certain of Rio Tinto’s executives with violations of the Securities Exchange Act of 1934.

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Turquoise Hill securities during the Class Period to seek appointment as lead plaintiff in the Turquoise Hill class action lawsuit. A lead plaintiff will act on behalf of all other class members in directing the Turquoise Hill class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Turquoise Hill class action lawsuit. An investor’s ability to share in any potential future recovery of the Turquoise Hill class action lawsuit is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff of the Turquoise Hill class action lawsuit or have questions concerning your rights regarding the Turquoise Hill class action lawsuit, please provide your information here or contact counsel, J.C. Sanchez of Robbins Geller, at 800/449-4900 or 619/231-1058 or via e-mail at [e-mail]. Lead plaintiff motions for the Turquoise Hill class action lawsuit must be filed with the court no later than December 14, 2020.

Turquoise Hill is an international mining company focused on the operation and development of the Oyu Tolgoi copper-gold mine in Southern Mongolia, which is Turquoise Hill’s principal and only material resource property. Through its subsidiaries, Rio Tinto owns 50.8% of Turquoise Hill. Rio Tinto PLC subsidiary Rio Tinto International Holdings, Inc. is also the manager of the Oyu Tolgoi project, including having responsibility for its development and construction.

The Turquoise Hill class action lawsuit alleges that during the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) the progress of underground development at Oyu Tolgoi was not proceeding as planned; (ii) there were significant undisclosed underground stability issues that called into question the design of the mine and the projected cost and timing of production; (iii) Turquoise Hill’s publicly disclosed estimates of the cost, date of completion, and dates for production from the underground mine were not achievable; (iv) the development capital required for the underground development of Oyu Tolgoi would cost substantially more than a billion dollars over what Turquoise Hill had represented; and (v) Turquoise Hill would require additional financing and/or equity to complete the project.