By Adriano Marchese
Stocks in Canada were down mid-trading Tuesday, continuing their roller coaster ride with the S&P/TSX Composite Index down 268.89 points. In step with its counterparts south of the border, investors are feeling more risk-averse ahead of the U.S. Federal Reserve policy meeting. Turquoise Hill Resources Ltd.'s shares rose after it said a deal was struck to allow the delayed expansion of the Oyu Tolgoi copper mine in Mongolia to push ahead.
Canada's S&P/TSX Composite Index was down 1.46% at 20273.51 and the blue-chip S&P/TSX 60 fell 1.41% to 1233.46.
Toronto-listed shares in Turquoise Hill Resources Ltd. rose 16% to C$22.12 after the company and majority-owner Rio Tinto reached an agreement with Mongolia's government that will see the start of underground operations at the mine in the South Gobi desert.
Other market movers:
Galiano Gold Inc. shares fell 1.2% to C$0.81 after it said ore delivery at its Ghana joint-venture operation continued to be slow in the fourth quarter, and the company's gold output for the year failed to meet its revised guidance in 2021. The Asanko Gold Mine is a 50-50 joint venture with South-Africa based Gold Fields Ltd.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
01-25-22 1223ET
