The owner of the massive Oyu Tolgoi copper-gold mine in Mongolia is doubling its shares outstanding with a $2.4 billion rights offer.
Shareholders of Turquoise Hill Resources would be wise to participate in an upcoming rights offering.
But much of that optimism is centred on positive outcome over Oyu Tolgoi expansion.
Financing arrangements with the Mongolian government have so far failed.
Oyu Tolgoi Chairman: I have seen excitement about Mongolia reach fever pitch and drop off a cliff multiple times.
Operator Turquoise Hill expected to confirm news at some point Monday.
Rio Tinto has tried to get approval from Mongolia for its financing proposal since last winter, but the government has not yet offered a direct reply.
Now processing 100,000 tonnes of ore per day.
106 explorers in Mongolia have become collateral damage in a criminal case against former government officials.
The long-running dispute over financing and costs relating to expansion of Rio's flagship copper-gold mine could be over by the end of the year.
During the board meeting scheduled for this week, Kinnell is likely push for an end of some of the several points of dispute over Oyu Tolgoi.
Long-running dispute between the Mongolian government and Rio over the massive copper-gold mine continues to drag on.
Country's government may soon convert its shares in Rio Tinto’s $6.6 billion Oyu Tolgoi mine into a public company.
In recent years the country has seen a mining boom drive outstanding economic growth, but wealth gap and pollution concerns are changing the country's view towards foreign resource firms.
Regardless of who is elected, analysts agree that Rio's Oyu Tolgoi, the largest foreign investment in Mongolia, will be the first and main target for the new president.
The market is closely watching the opening of Oyu Tolgoi, as fears about copper supply for the rest of 2013 continue to increase, affecting the red metal's price.
Company is said to have invited reporters to attend a ceremony at the mine this Friday to celebrate its first shipment.
CEO Sam Walsh told Rio Tinto investors approvals for shipment of material from the controversial Mongolia mine are expected "in the next couple of weeks."
Rumours suggest Rio’s sale of a majority stake in Ivanhoe Australia will trigger a full takeover of the company.
The mine is currently operating under a temporary month-to-month budget from Rio's coffers
Mongolia wants six issues resolved before agreeing on construction funding.
Won't vote on World Bank funding of $4.5 billion debt package sought by Rio Tinto.
Vancouver company calls ongoing negotiations with Mongolia government productive.
After months of difficulties, Rio Tinto’s (LON:RIO) flagship Mongolian copper-gold mine, Oyu Tolgoi, will start producing early next year as the giant miner has finally solved the issue of power supply from next-door China.
First ore from the massive copper-gold-silver mine is expected to be processed within six weeks of China and Mongolia signing the final power agreement.
Rio Tinto’s flagship $5.2 billion copper-gold Oyu Tolgoi mine in Mongolia near the Chinese border – one of the biggest mining projects in the world – is practically ready to go, except for one “detail”: it needs power supply to kick-start operations.
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