Seeking Alpha

Rio Tinto lends $600M to Turquoise Hill

  • Rio Tinto (RIO) says it will lend $600M to Turquoise Hill Resources (TRQ) to help fund development of the $6.2B Oyu Tolgoi copper mine in Mongolia; RIO owns ~51% of TRQ.
  • The loan will help TRQ refinance an existing $225M loan from RIO made in June.
  • TRQ +9.6% premarket.
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