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

  • November 08, 2020 08:02 AM AEDT
  • Team Kalkine
    Team Kalkine
    admin Team Kalkine
    16957 Posts

    Team Kalkine comprises of experts who understand various markets nuances and are enthusiastic and passionate to provide best possible offerings in the form of insights and stories. The team has rich experience of working across different markets with...

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.

 

 

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK