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Oyu Tolgoi funding chasm yawns wider

The cost blow outs continue at Rio Tinto’s Oyu Tolgoi copper mine in Mongolia, with development vehicle Turquoise Hill Resources (TRQ) announcing the funding gap has swelled by a further US$1.2 billion to US$3.6 billion.

Tom Hoskyns
Rio Tinto's Oyu Tolgoi asset is a combined openpit and underground copper mining project approximately 235 kilometres east of Mongolia's Ömnögovi Province capital Dalanzadgad

Rio Tinto's Oyu Tolgoi asset is a combined openpit and underground copper mining project approximately 235 kilometres east of Mongolia's Ömnögovi Province capital Dalanzadgad

In its third quarter update on Thursday, Canada-based TRQ, which is 50.8% owned by Rio, said about US$140 million of the figure was COVID-related, with the remainder due to changes to mine sequencing and...

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