TRQ - Turquoise Hill gets temporary relief in Rio Tinto arbitration

Turquoise Hill Resources (TRQ) says it received a temporary order for urgent interim relief in its arbitration proceedings with Rio Tinto (RIO) related to funding options for the Oyu Tolgoi mine in Mongolia.Under the order, Rio Tinto may not use existing contractual arrangements to authorize re-profiling negotiations with project lenders in a manner that would render Oyu Tolgoi unable to execute an offering of bonds in 2021.The two companies are in a dispute over roles and obligations in securing the remaining funding for the underground expansion of the mine.The Mongolian government recently expressed concern at the continued viability of the Oyu Tolgoi project, warning it would be necessary to review and evaluate whether it can proceed.

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Turquoise Hill gets temporary relief in Rio Tinto arbitration