TRQ - Turquoise Hill seeks order to 'protect viability' of Oyu Tolgoi funding strategy

Turquoise Hill Resources ([[TRQ]] +3.6%) says it is seeking an interim order in its arbitration against Rio Tinto ([[RIO]] -0.1%) in response to actions it says would limit funding options for the Oyu Tolgoi mine in Mongolia.The two companies are in a dispute over roles and obligations in securing the remaining funding for the underground expansion of the mine.Rio recently confirmed that the expansion at the mine would cost $6.75B, ~$1.4B higher than its estimate in 2016.Rio owns 51% of the mine through its majority stake in Turquoise Hill, which has a 66% interest in Oyu Tolgoi, with the Mongolian government holding the remaining 34% of the operation.The 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 seeks order to 'protect viability' of Oyu Tolgoi funding strategy