Entrée / Oyu Tolgoi Joint Venture construction begins

The Joint project includes the Hugo North Extension and Heruga deposits. Rio Tinto is managing the construction. [1]

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Rio Tinto responds to new regulation and taxes

Rio Tinto files a complaint against the IMF, which consequently delays the release of the first IMF bailout payments[1]

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Phase 2 of Oyu Tolgoi construction is projected to begin

This phase includes the Hugo North lift 1 underground mine and the Southern OT open pit[1]

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‘Dubai Agreement’ on Oyu Tolgoi phase 2 is signed

The finance agreement for a USD 4.4 billion underground expansion of the OT mine (OTUMDFP) is signed in Dubai. Not only is it largely publicly financed (including the IFC and EBRD), it also explicitly consolidates the terms of the 2009 Investment Agreement.[1] Read more

Rio Tinto suspends the USD 5.3 billion Oyu Tolgoi expansion

In response to a possible tax increase, dispute over costs, and increasing political will to renegotiate the Investment Agreement, Rio Tinto halts Oyu Tolgoi operations and lays off 1,700 jobs. [1]

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Rio Tinto acquires a majority stake in Ivanhoe Mines

As Rio Tinto acquires a majority stake in Ivanhoe Mines in January 2012,[1] the name of Ivanhoe Mines is changed into Turquoise Hills Resources (TRQ) as of August 2012.[2] Read more

Rio Tinto wins arbitration case about take-over

Rio Tinto wins in an arbitration case from Ivanhoe Mines, which tried to prevent a Rio Tinto take-over.

Oyu Tolgoi shareholders agreement signed

An ‘Amended and Restated Shareholders Agreement’ (ARSHA) is signed by Erdenes, Ivanhoe Oyu Tolgoi, Oyu Tolgoi Netherlands B.V., and Oyu Tolgoi LLC (formerly known as Ivanhoe Mines Mongolia Inc.)

Phase 1 of OT open pit construction begins

The first phase of Oyu Tolgoi open pit construction begins[1].
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Rio Tinto gets rights over OT mine in exchange for financing

Rio Tinto becomes the operator of Oyu Tolgoi and with Ivanhoe seeks to complete an international project-finance package of up to USD 3.6 billion.