LONDON: Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining known funding requirement of approximately $2.3 billion building on and replacing the arrangements established…
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Turquoise Hill Resources
Turquoise Hill Resources is a Canadian mineral exploration and development company headquartered in Montreal, Quebec, a majority-owned subsidiary of Rio Tinto Group. Its principal and only material mineral resource interest is a 66% share of the Oyu Tolgoi Copper-Gold Mine in Southern Mongolia 200 km east of Dalanzadgad. The company was called Ivanhoe Mines until…