AKIPRESS.COM - 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, Reuters reports.

The intention was voiced by mine owner Rio Tinto's Turquoise Hill Resources on Wednesday.

Oyu Tolgoi produced 52 percent more copper concentrate in the second quarter of the year, or 55,300 tons, than in the same period a year ago.

This was the highest quarterly concentrate production since operations began, Turquoise Hill said.