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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