Turquoise Hill Gains as Mongolian PM Gives Mine Funding Support
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Turquoise Hill Resources Ltd. rose to a one-month high after Mongolia’s Prime Minister Altankhuyag Norov said his government fully supports project financing to restart construction on the second phase of the Oyu Tolgoi mine.
The four or five issues holding up the financing agreement are not connected to the government, Altankhuyag yesterday told a group of foreign investors, adding that his government has signaled to partner Rio Tinto Group that Mongolia is ready to wrap up the funding.