Rio’s Turquoise Hill May Seek Extension From Oyu Tolgoi Lenders
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Turquoise Hill Resources Ltd., the miner controlled by Rio Tinto Group, may ask lenders to extend financing for the $6.2 billion Oyu Tolgoi copper and gold project as talks continue with the Mongolian government.
Current lender commitments expire on March 31, Vancouver-based Turquoise Hill said in a statement yesterday. Mongolia, which owns 34 percent of the project, has been in talks with Turquoise Hill and Rio about cost overruns and finalizing financing for further mine development.