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Oyu Tolgoi project financing seen signed by year-end -Turquoise Hill

Reuters - UK Focus

July 15 (Reuters) - A project financing agreement for the underground expansion of Oyu Tolgoi, a massive copper and gold mine in Mongolia, is expected to be signed by year end, mine owner Rio Tinto (LSE: RIO.L - news) 's Turquoise Hill Resources (Toronto: IVN.TO - news) unit said on Wednesday.

Oyu Tolgoi produced 52 percent more copper concentrate in the second quarter, or 55,300 tonnes, than in the same period a year ago, Turquoise Hill said. This is the highest quarterly concentrate production since operations began. (Reporting by Nicole Mordant in Vancouver; Editing by Toni Reinhold)