Turquoise Hill slumps on Rio raising plan

SHARES in Rio Tinto-controlled Turquoise Hill Resources slumped on Thursday after Rio said a US$500 million rights issue would be required to fund the Oyu Tolgoi underground expansion.

Turquoise Hill slumps on Rio raising plan Turquoise Hill slumps on Rio raising plan Turquoise Hill slumps on Rio raising plan Turquoise Hill slumps on Rio raising plan Turquoise Hill slumps on Rio raising plan

The Oyu Tolgoi mine in Mongolia

Rio and Turquoise Hill signed a memorandum of understanding which Rio said "provides a clear pathway to progress the financing for completion of Oyu Tolgoi…and address TRQ's funding position".

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