Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) and its majority-owned Turquoise Hill Resources (TSX TRQ; NYSE; TRQ) have reached a deal that ends a standoff between the companies over funding for an expansion of the massive Oyu Tolgoi copper-gold mine in Mongolia. The funding plan addresses the remaining US$2.3 billion needed for the underground project, building on and replacing deals set up under a memorandum of understanding inked in September last year.
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