25 November 2020

Oyu Tolgoi raising more questions for Rio

Hedge fund manager Odey has today published a letter written to RioTinto’s board expressing concerns regarding the financing package surrounding Oyu Tolgoi mine in Mongolia.

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Rio’s partner in the mine, Turquoise Hill, has issued statements that it is unhappy with current financing arrangements. Odey, which is a shareholder in Rio says in the letter that ‘lenders have better security than a Rio Tinto bondholder’.

The letter calls for transparency regarding funding accusing Rio of ‘value destruction’.

Read the letter in full.

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