Rio Tinto-controlled Turquoise Hill Resources said an impairment charge at the cash-generating unit of its Oyu Tolgoi copper mine in Mongolia led to the company missing estimates for second-quarter profit on Wednesday.
Turquoise Hill, which owns 66% of the mine, reported a loss of $736.7-million, or 22c a share, in the three months ended June 30, compared with a profit of $204-million, or 9c, a year earlier. That compared with analyst expectations for earnings of 3c a share.