Turquoise Hill Resources Ltd. provided an update on the Oyu Tolgoi mine. During Second Quarter 2021, underground development progress was significantly impacted by the COVID-19 constraints on site and in Mongolia, including restrictions on movement of international expertise. Despite these constraints, Material Handling System 1 is greater than 90% complete and all development and technical readiness activities pertaining to the initiation of the undercut have been met or are on track to being met, to achieve sustainable production in October 2022. Further, recent easing of quarantine constraints and increasing workforce vaccination rates have supported gradual improvements in site personnel levels. Shafts 3 and 4 were also impacted by COVID-19 related quarantine requirements and travel restrictions with no significant development progress during the quarter. The impact of further delays to Shaft 3 and 4 and other activities is currently under assessment, and could impact production ramp-up post Panel 0. Turquoise Hill and Rio Tinto continue to engage with various Mongolian governmental bodies with a view to resolving outstanding non-technical undercut issues. All parties remain committed to moving the project forward and ensuring long-term and mutually beneficial solutions to the issues under discussion. Delayed resolution of these issues and the slowing of discussions as a result of the COVID-19 situation in Mongolia, will delay the Company's expected timing for the initiation of the undercut. Some contractual commitments for future works such as on Material Handling System 2 and the concentrator upgrade, have experienced delays as entering into these commitments is currently pending approval of the Definitive Estimate and required budget uplift by the Oyu Tolgoi Board. Any significant delay to the initiation of the undercut would have a material impact on project schedule, including the timing of sustainable production for Panel 0, as well as the timing and quantum of underground capital expenditure, which would materially adversely impact the timing of expected cash flows from the Oyu Tolgoi underground project thereby increasing the amount of Turquoise Hill's incremental funding requirement. The Company will continue to monitor the situation and assess any impact of a delay to the undercut initiation, and update the market as appropriate. Second Quarter 2021 concentrate shipments to customers were impacted by COVID-19 related Mongolia /Chinese border restrictions which resulted in force majeure being declared from 30 March 2021. Shipments to Chinese customers recommenced on April 15, 2021 and Oyu Tolgoi continues to work closely with Mongolian and Chinese authorities to manage the supply chain disruptions. The force majeure will remain in place until there are sufficiently sustained volumes of convoys crossing the border to ensure Oyu Tolgoi's ability to meet its on-going commitments to customers and to return on-site concentrate inventory to target levels.