Oyu Tolgoi wins Bloomberg TV “deal of the year”
Story - Proud Oyu Tolgoi Directors Byambasaikhan and Otgochuluu with the Bloomberg bull trophy. Byambasaikhan received the award on behalf of Oyu Tolgoi LLC. The award was not unexpected given the mammoth $4.4B project finance facility signed up by Oyu Tolgoi, its shareholders Turquoise Hill Resources and Erdenes Oyu Tolgoi and Manager Rio Tinto in December 2015.
The PF facility completion is a major event for Mongolia at a time when the global minerals sector is in distress and investor confidence in Mongolia is being rebuilt.
Erdenes Mongol executives played a leading role in resolving long standing issues between the Government of Mongolia and Rio Tinto. The UDP (Underground Development Plan) signed between Oyu Tolgoi’s shareholders on 19th May 2015 was the catalyst for completing arrangements between the lending syndicate (comprising 20 banks) and Oyu Tolgoi and its shareholders.