Rio Tinto and Mongolia set to sign $6bn Oyu Tolgoi financing agreement

Oyu Tolgoi copper and gold mine MongoliaThe Mongolian government and Rio Tinto will officially sign an agreement finalising terms for the financing of the development of the Oyu Tolgoi gold and copper mine on Wednesday December, Prime Minister Chimediin Saikhanbileg said last week. The agreement  provides for $4.2bn external financing to be raised from 15 international banks and a $300m investment from Rio Tinto for the construction of the underground section of the mine where more than 80% of the mineral resources are reported to be located.

Source: AKIpress