The Mongolian state owns 34% in the Oyu Tolgoi copper project, while Rio’s majority-owned Turquoise Hill has a 66% stake.
Turquoise said it now expects to have liquidity available to fund operations and underground development of the project beyond the third quarter of 2021.
“If it becomes prudent to do so, the company may re-engage with Rio Tinto and/or third parties regarding possible interim funding,” the company said in a statement.
Reporting by Shanti S Nair in Bengaluru; editing by Uttaresh.V
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