Turquoise Hill Resources was a Canadian mineral exploration and development company headquartered in Montreal, Quebec, and since December 2022, a wholly owned subsidiary of Rio Tinto Group.

Its principal and only material mineral resource interest is a 66% share of the Oyu Tolgoi Copper-Gold Mine in Southern Mongolia 200 km east of Dalanzadgad.

[1][8] In Australia, Turquoise Hill Resources has stakes in mines containing gold, uranium, copper and the world's highest grade molybdenum and rhenium.

[16][17] In September 2010 it was reported that exploration around Oyu Tolgoi at the Heruga North deposit revealed higher reserves of gold and copper than previously estimated (the news caused IVN share prices to rise 6%).

[18] Capital spending is likely to reach $5Bn;[19] in October 2010, Ivanhoe announced a new $1Bn share offering in order to raise funds to develop this mine.

[24] In 2016 Turquoise Hill produced 201,300 tonnes of copper and 300,000 ounces of gold, exceeding guidance and generating US$1.2 billion in revenue.

Later in October Rio Tinto helped Ivanhoe gain access to a $350 million credit facility which Oyu Tolgoi needed for further development.

Also that month the newly discovered Heruga Deposit at Oyu Tolgoi was for the first time officially acknowledged (estimates completed) as having a substantial resource of copper, gold and molybdenum.

Three months later, in April the government approved the Ovoot Tolgoi project allowing Ivanhoe to begin production in the southern portion (Sunset Field).

The decision came partly as a result of pressure from Ivanhoe's largest shareholder Rio Tinto to sell non core assets.

On July 31, 2012 Rio Tinto purchased $935 million worth of Ivanhoe shares putting its total interest in the company at 51%.

[30] To obtain the additional funding, it was required that Ivanhoe Mines change its name and that founder Robert Friedland resign as CEO.

2013 – June - Turquoise Hill Resources announced it had secured a $225-million non-revolving bridge facility from majority shareholder Rio Tinto.

Though Ivanhoe still needs to raise billions of dollars to develop key projects, it is confident that either other investors will come forward or the financing will become available.

[45] As of July 2018, the CEO of Turquoise Hill Resources is Ulf Quellmann, an experienced finance executive from Rio Tinto.