Turquoise Hill Opens Cannons At Parent Rio Tinto (ASX:RIO), Arbitration Trial To Begin Over Oyu Tolgoi

  • November 08, 2020 08:02 AM AEDT
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Turquoise Hill Resources Ltd., a subsidiary of the iron ore mining giant - Rio Tinto Limited (ASX:RIO),  announced the commencement of arbitration proceedings against its parent entity seeking clarity on the funding of blowouts at the Mongolian Oyu Tolgoi project.

  • The commencement of legal proceedings comes after the recent discussion with Rio Tinto on re-structuring of the Oyu Tolgoi LLC’s existing project debt.
  • On 9 September 2020, Turquoise Hill announced the signing of a non-binding Memorandum of Understanding (MOU) between Turquoise Hill and Rio Tinto to pursue re-calibrate the project debt in line with the cash flow projections.
  • Rio Tinto traded at $93.27 a share on 6 November 2020 with a market capitalisation of $34.13 billion.

All financial information pertains to Australian Dollar unless stated otherwise.




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