Rio Tinto, Turquoise Hill ink funding deal for Mongolia’s Oyu Tolgoi mine expansion

rio tinto turquoise hill ink funding deal for mongolias oyu tolgoi mine expansion

Sumary of Rio Tinto, Turquoise Hill ink funding deal for Mongolia’s Oyu Tolgoi mine expansion:

  • Article content Mining giant Rio Tinto Ltd said on Friday it has reached a binding agreement with Turquoise Hill Resources Ltd to update funding plans for the underground expansion of the massive Oyu Tolgoi copper-gold mine in Mongolia..
  • (https://bit.ly/3uCfg96) Rio Tinto will back potential shortfalls from the debt re-profiling as well as new debt up to $750 million through a co-lending facility..
  • The Oyu Tolgoi mine expansion has seen costs balloon to $6.75 billion, about $1.4 billion higher than Rio estimate in 2016 and has led to friction over funding between the global miner and Turquoise Hill….

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