BUZZ-Turquoise Hill Resources: Rio Tinto secures $4.4 bln funds for Oyu Tolgoi

Tue Dec 15, 2015 11:13am EST
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** Canadian miner's shares jump as much as 7.4 pct to a high of C$3.50 after Mongolian mine gets $4.4 bln financing

** Stock gives up some gains to trade up 2.5 pct at C$3.39 Tuesday, bouncing back from near 52-week lows on Monday

** Turquoise Hill parent Rio Tinto Plc locks in $4.4 bln financing to fund a massive expansion of Oyu Tolgoi copper mine

** Turquoise Hill owns 66 pct of mine and Mongolian government the rest; Rio Tinto is operator of the mine

** Open pit mining of Oyu Tolgoi began over two years ago, but work was stalled amid disputes over taxes and construction costs, which were resolved earlier this year

** Up to Monday's close, Turquoise Hill's Canada-listed stock had fallen 9 pct this year