VANCOUVER, BC, Jan. 25, 2022 /PRNewswire/ – Entrée Resources Ltd. (TSX: ETG) (OTCQB: ERLFF) (– the “Company” or “Entrée“) reports that on January 24, 2022, Turquoise Hill Resources Ltd. (“Turquoise Hill“), announced the resolution of key outstanding issues related to the Oyu Tolgoi underground mine:
- Turquoise Hill and the Government of Mongolia reached a mutual understanding for a renewed partnership.
- Turquoise Hill and Rio Tinto entered into a binding agreement that delineates a comprehensive funding arrangement to address Turquoise Hill’s estimated incremental funding requirements to complete the project.
- The Oyu Tolgoi LLC (“OTLLC“) board approved the signing of an Electricity Supply Agreement to provide Oyu Tolgoi with a long-term source of power from the Mongolian grid on terms fully agreed with the Government of Mongolia.
As a result, the OTLLC board unanimously approved commencement of the undercut to start Hugo North…