Rio Tinto and Mongolia agree to adjust the shareholder loan interest rate for the Oyu Tolgoi copper and gold project.
Rio Tinto PLC ADR (RIO) and the Mongolian government reached an agreement on June 30 to adjust the interest rate on the shareholder loan for the Oyu Tolgoi project. The revised rate reflects an updated risk assessment as the project advances toward production targets.
Oyu Tolgoi, a major copper and gold deposit, is set to produce an average of 500,000 tonnes of copper annually from 2028 to 2036. Mongolia holds a 34% stake in the project, while Rio Tinto owns the remaining 66%. The parties also agreed to address matters related to the Entrée mine lease areas.
Rio Tinto remains a top dividend stock, with a yield of 4.26%, according to Jim Simons’ Renaissance Technologies. The company’s core operations include iron ore, aluminum, copper, and lithium production.