Articles Tagged "Oyu Tolgoi"

Turquoise Hill Resources Receives $225 Million Debt Facility from Rio Tinto

Mining Weekly reported that Turquoise Hill Resources (TSX:TRQ, NYSE:TRQ) announced that it has received a $225 million nonrevolving bridge facility from Rio Tinto (NYSE:RIO) for Oyu Tolgoi. As quoted in the Mining Weekly report: Turquoise Hill pointed out that, should it default under the terms of the bridge facility, Rio Tinto would be entitled to convert any outstanding [...]

Oyu Tolgoi Hits Roadblock on Environmental, Social Concerns reported that the United States' refusal to vote on World Bank funding aimed at expanding Rio Tinto's (ASX:RIO,LSE:RIO,NYSE:RIO) Oyu Tolgoi copper-gold mine has thrown a wrench in the company's plans as it has created pressure for the company to substantially change the project. Among other things, the US is reportedly concerned that the project's Environmental and Social Assessment "has gaps in critically important information."

Mongolia the Latest Mining Frontier, but Not for the Risk Averse

Mongolia may have $2 trillion in untapped natural resources, and as only 1 percent of its land has been licensed for mining, it is an exciting exploration prospect. But the government’s flip-flopping on its investment agreement regarding Rio Tinto's massive Oyu Tolgoi copper mine, along with challenges associated with infrastructure and exports, could deter investors.

Glass Half Empty or Half Full for Australia’s Copper Miners?

Australia's central bank expects the mining industry to wind down from its high in about a year's time, and companies such as BHP Billiton have already postponed major copper project investments. But with supplies expected to tighten further, rival Rio Tinto is prepared to continue forging ahead with developing one of the world's biggest copper mines. Who's right?