Rio Tinto subsidiary Turquoise Hill Resources has declared 2015 net income attributable to shareholders of $313.3-million, or $0.16 a share, compared with net income of $26.9-million, or $0.01 a share in 2014 – an increase of $286.4-million.
The Vancouver-based company advised that the increase was mainly attributable to a $210.2-million non-cash impairment charge recorded in 2014 on the reclassification of its coal-focused subsidiary SouthGobi to assets held for sale, and a deferred tax asset of $165-million recognised in 2015, partially offset by adjustments for inventory write-down of $103.2-million.
