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HomeEntertainmentENTRÉE RESOURCES WELCOMES START OF OYU TOLGOI UNDERGROUND MINE AND ANNOUNCEMENT OF...

ENTRÉE RESOURCES WELCOMES START OF OYU TOLGOI UNDERGROUND MINE AND ANNOUNCEMENT OF RENEWED PARTNERSHIP WITH GOVERNMENT OF MONGOLIA

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…

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