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Rio Tinto and Mongolia agree to revise Oyu Tolgoi shareholder loan rate
The companies also agreed to review the rate’s appropriateness and work on issues tied to the Entrée mine lease areas.
Rio Tinto and the government of Mongolia agreed to adjust the interest rate on a shareholder loan tied to the Oyu Tolgoi Project, according to coverage from Yahoo Finance.
The agreement, reached on June 30, also includes a commitment to review whether the revised rate remains appropriate as the project matures, with the adjusted rate reflecting a forward-looking assessment of Oyu Tolgoi’s risk profile.
Yahoo Finance also said Rio Tinto and Mongolia will work together to resolve matters related to the Entrée mine lease areas.
Oyu Tolgoi is Rio Tinto’s flagship project in Mongolia, with Mongolia holding a 34% stake and Rio Tinto 66%, and the project is expected to deliver an average of 500 ktpa of copper from 2028 to 2036, according to the report.
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