December 15, 2015 / 4:17 PM / 3 years ago

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

** 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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below