News: RIO UPDATE 1-Canada's Turquoise Hill posts five-fold rise in quarterly profit

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May 12 (Reuters) - Canadian miner Turquoise Hill Resources Ltd TRQ.TO said on Wednesday its first-quarter profit more than quintupled, helped by increased production of copper and gold at its Oyu Tolgoi mine in Mongolia and higher commodity prices.

Oyu Tolgoi is one of the world's largest copper-gold-silver mines. Rio Tinto (RIO) RIO.L owns 51% of Turquoise Hill, which in turn owns 66% of the Oyu mine. The rest of the mine is owned by government of Mongolia.

Turquoise Hill said first-quarter copper production rose 29% to 45,449 tonnes and gold output increased 461.5% to 145,656 ounces at Oyu Tolgoi, from last year.

Rio Tinto-controlled Turquoise Hill said income attributable to owners of the company rose to $236.7 million, or $1.18 per share, for the three months ended March 31, from $45.2 million, or 22 cents per share, a year earlier.