1 NICKEL, COPPER PRICES NEAR NEW HIGHS AS CHINA POWERS ON WWW.MINING.COM PUBLISHED:2020/10/20      2 RUSSIA INVITES BRICS PARTNERS TO JOIN COUNTRY’S MASSIVE ARCTIC OIL & GAS PROJECTS WWW.RT.COM PUBLISHED:2020/10/20      3 MINING IN MONGOLIA: OVERVIEW BY CHRISTOPHER MELVILLE AND ERDENEDALAI ODKHUU, MELVILLE ERDENEDALAI LLP WWW.UK.PRACTICALLAW.THOMSONREUTERS.COM  PUBLISHED:2020/10/20      4 THE HYGIENE HYPOTHESIS: IMMUNITY IN MONGOLIAN CHILDREN WWW.MONGOLIANECONOMY.MN PUBLISHED:2020/10/20      5 ‘CASHMERE, WOOL AND LEATHER PRODUCTS-2020’ EXPO WWW.NEWS.MN PUBLISHED:2020/10/20      6 CHINA'S ECONOMY CONTINUES TO BOUNCE BACK FROM VIRUS SLUMP WWW. PUBLISHED:2020/10/20      7 UN ASKED TO COOPERATE FOR CAPACITY BUILDING OF CIVIL SERVICE OF MONGOLIA WWW.MONTSAME.MN PUBLISHED:2020/10/20      8 ALUMNA BECOMES FIRST CHAIRWOMAN OF MONGOLIA'S INFORMATION AND COMMUNICATIONS AUTHORITY WWW.BSG.OX.AC.UK PUBLISHED:2020/10/20      9 FOUR MORE PATIENTS TEST POSITIVE FOR COVID-19 IN MONGOLIA WWW.MENAFN.COM PUBLISHED:2020/10/19      10 CHINA WILL BE THE ONLY MAJOR ECONOMY TO SEE GROWTH THIS YEAR AS WORLD BRACES FOR LONG RECOVERY FROM COVID-19 CRISIS – IMF WWW.RT.COM PUBLISHED:2020/10/19      I-IX САРД СУУДЛЫН АВТОМАШИНЫ ИМПОРТ ЖИЛИЙН ДҮНГЭЭР 26,3 ХУВИАР БУУРЧЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2020/10/20     АЯЛАЛ ЖУУЛЧЛАЛЫН КОМПАНИУДЫН 90 ХУВЬ НЬ ХҮНД БАЙДАЛД БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2020/10/20     “MONGOLIAN MINING CORPORATION”-ИЙН УГААСАН КОКСЖИХ НҮҮРСНИЙ БОРЛУУЛАЛТ III УЛИРАЛД 65 ХУВИАР ӨСӨЖ , 1.2 ТОНН БОЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/10/20     2021 ОНЫ ТӨСВИЙН ТӨСӨЛД УЛСЫН ТӨСВӨӨС НИЙГМИЙН ДААТГАЛЫН САНД 499.9 ТЭРБУМ ТӨГРӨГИЙН ТАТААС ОЛГОХООР ТООЦООЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/10/20     МОНГОЛЫН КОКСЖИХ НҮҮРСНИЙ ҮНЭ НЭМЭГДЭХ ТӨЛӨВТЭЙ БАЙНА WWW.NEWS.MN НИЙТЭЛСЭН:2020/10/20     АЯЛАЛ ЖУУЛЧЛАЛЫНХАН НЭГДСЭН БРЭНД БҮТЭЭГДЭХҮҮН, ҮЙЛЧИЛГЭЭ ГАРГАНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/10/20     "ХАНГАРДИ" ОРДНЫГ ХУВЬЧЛАХ ДУУДЛАГА ХУДАЛДАА ЗАРЛАЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2020/10/20     "СААРАЛ ЖАГСААЛТ"-ААС ГАРАХ ҮНЭЛГЭЭ АМЖИЛТТАЙ БОЛСНЫГ ОНЦЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2020/10/20     МОНГОЛБАНК ИПОТЕКИЙН ЗЭЭЛИЙН ЖУРМЫГ ИНГЭЖ ӨӨРЧЛӨВ WWW.NEWS.MN НИЙТЭЛСЭН:2020/10/19     ФАТФ МОНГОЛ УЛСАД 2023 ОНД ДАРААГИЙН ҮНЭЛГЭЭГЭЭ ӨГНӨ WWW.NEWS.MN НИЙТЭЛСЭН:2020/10/19    

Rio Tinto to raise USD 500 million to develop Oyu Tolgoi www.news.mn

Rio Tinto said on Thursday (17 September) that it plans to raise up to USD 500 million through additional lending to develop its giant Oyu Tolgoi copper mine in Mongolia. The Mongolian state has a 34% stake in the Oyu Tolgoi project, while Rio’s majority-owned Turquoise Hill Resources Ltd owns the remaining.
Rio and Turquoise Hill will jointly pursue the debt reprofiling process by engaging with existing project finance lenders, and expect a reduction of up to USD 1.4 billion in the funding requirements for Oyu Tolgoi.
In reprofiling, the time for repayment is extended, but the value of the debt is not marked down. The miner said any remaining funding for the underground mine will be met through a Turquoise Hill equity offering.
In July, Rio cut estimated reserves at Oyu Tolgoi, while confirming delays and higher costs after ground instability forced it to redesign the mine plan.
Oyu Tolgoi is Rio’s biggest copper growth project, but has faced geological challenges. The company had earlier forecast estimated first production from the mine between October 2022 and June 2023, 21-29 months later than its initial estimate.


Published Date:2020-09-18