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Turquoise Hill stock tanks on Mongolia mine funding

Sep 10, 2020

Source: https://www.mining.com/turquoise-hill-stock-tanks-on-mongolia-mine-funding/

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Rio Tinto moves to cut Oyu Tolgoi needed funding by $1.4bn

Oyu Tolgoi is Rio Tinto’s biggest copper growth project. (Image courtesy of Rio Tinto.)

Rio Tinto (ASX, LON, NYSE: RIO) and Turquoise Hill (TSX, NYSE: TRQ) said on Thursday they will jointly pursue debt reprofiling by engaging with existing lenders for the giant Oyu Tolgoi copper-gold-silver mine in Mongolia.

The decision, Rio Tinto said, includes a move to raise about $500 million, which will reduce the remaining funding requirement of the expansion to up to $1.4 billion.

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Oyu Tolgoi is Rio Tinto’s biggest copper growth project. (Image courtesy of Rio Tinto.)

The decision, Rio Tinto said, includes a move to raise about $500 million, which will reduce the remaining funding requirement of the expansion to up to $1.4 billion.

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