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Rio Tinto and TRQ have agreed to: pursue re-profiling of principal debt repayments with lenders under the existing project finance arrangements to better align with the revised mine plan, project timing and cash flows seek to raise up to A$500 million ($363 million) in additional lending under the existing project financing arrangements from selected international financial institutions acknowledge that any balance of the funding required for Oyu Tolgoi to achieve completion of the Hugo Dummett North underground mine will need to be met by TRQ’s offering equity “The MOU agreed today with TRQ provides a clear funding pathway for the completion of the Oyu Tolgoi Underground Project,” said Rio Tinto chief executive of copper and diamonds Arnaud Soirat. Oyu Tolgoi LLC retains the right to implement its own coal-fired or renewable energy power plant if the government abandons the development of the state-owned power plant. TQR’s released estimate that month had considered the expansion of the Oyu Tolgoi underground mine and a proposed 300MW coal-fired power plant at Tavan-Tolgoi.