Rio Tinto makes Oyu Tolgoi funding commitment

Miner says it will provide bridge funding facility to Turquoise Hill if needed.

Rio Tinto (RIO) has committed to providing a funding package to Turquoise Hill Resources to ensure funding for the continuing development of the Oyu Tolgoi mine in Mongolia.

In a statement to the Australian Securities Exchange, Rio Tinto said it would provide a $US600 million bridge funding facility to Turquoise Hill, if necessary, which would essentially refinance its indebtedness to the mining giant.

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