Mongolia funding puzzle shows Rio's between a rock and a hard place

RUMOURS are swirling Rio Tinto is about to force a rights issue on cash-strapped Canadian offshoot, Turquoise Hill Resources (TH), the TSX-listed company whose only asset is Oyu Tolgoi - Rio’s flagship copper-gold growth project in Mongolia.

Mongolia funding puzzle shows Rio's between a rock and a hard place Mongolia funding puzzle shows Rio's between a rock and a hard place Mongolia funding puzzle shows Rio's between a rock and a hard place Mongolia funding puzzle shows Rio's between a rock and a hard place Mongolia funding puzzle shows Rio's between a rock and a hard place

Rio CEO J-S Jacques at Oyu Tolgoi in Mongolia

Turquoise is hardly an independent entity despite its separate listing as Rio controls 51% and operates the mine, where there have been embarrassing cost overruns and rows with Ulan Bator about the

topics

loader
  • Top News: Vale Terry Grammer. Read more.
  • Top News: SolGold's relationship with BHP, Newcrest not 'soured'. Read more.
  • Top News: Nickel Mines becomes 'new force in global nickel'. Read more.