Turquoise Hill Nears Financing For $13B Mongolia Project

Law360, New York (October 10, 2012, 10:03 PM EDT) -- Efforts to tap what is widely thought to be the world's biggest undeveloped copper-gold reservoir are inching toward financial close, according to an update Tuesday from Turquoise Hill Resources Ltd., which owns 66 percent of the Oyu Tolgoi project in Inner Mongolia.

“Turquoise Hill now expects closing of final binding documentation in the first quarter of 2013 and funding in the first half of 2013,” the Canadian mining company said in a statement.

Turquoise Hill — which is majority-owned by mining giant Rio Tinto PLC —...
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