Rio revises funding arrangements with Turquoise
Rio Tinto has agreed to amend funding plans with Turquoise Hill Resources (TRQ) to acquire the approximately 49% of the issued and outstanding shares of TRQ that Rio does not currently own.
This should enable TRQ to fund the ongoing development of the Oyu Tolgoi project in Mongolia. The deadline in the previously agreed funding plan for Turquoise Hill to conduct an initial equity offering of at least $650 million has also been extended from the end of August 2022 to the end of 2022.
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