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Turquoise Hill Announces Start of Oyu Tolgoi Underground Mine, Renewed Partnership with the Government of Mongolia and a Comprehensive Funding Arrangement for its World Class Oyu Tolgoi Mine

  • Decision follows successful negotiations resulting in a renewed partnership with the Government of Mongolia
  • Agreement with Rio Tinto on an amended and restated Heads of Agreement providing a comprehensive funding arrangement to address the Company’s estimated funding requirements

MONTREAL, Jan. 24, 2022 /PRNewswire/ – Turquoise Hill Resources Ltd. (“Turquoise Hill” or the “Company”) today announced that it has successfully reached a mutual understanding for a renewed partnership with the Government of Mongolia and the Oyu Tolgoi LLC (“OT LLC”) board of directors has unanimously approved the commencement of the undercut, namely the commencement of blasting that will start the Oyu Tolgoi (“OT”) underground mine production. Consequently, the Company expects to begin caving operations in the coming days. With this decision, the Company continues to expect that the underground mine will achieve sustainable production for Panel 0 in the first…

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