Name: 闖關電視：銅底 (Breakingviews TV: Copper bottom)
Uploaded: 2021-01-18T19:00:20.000Z
Duration: 1 min 41 s

Rio Tinto has a Mongolian bullet to bite a mega miners Oyo Tolgoi project in Mongolia should soon be one of the world's biggest copper producers, and copper prices are soaring.

力拓有一顆蒙古子彈咬住了一個超大型礦商Oyo Tolgoi項目，蒙古應該很快就會成為世界上最大的銅生產國之一，銅價也在飆升。

Unfortunately, it's corporate structure is a bit of a mess.

可惜的是，它的公司結構有點亂。

關係子句

Oyo Tolgoi is 34% owned by the Mongolian government and 66% owned by something called Turquoise Hill Resources, in which Rio has a 51% stake.

Oyo Tolgoi由蒙古政府擁有34%的股份，66%的股份由名為Turquoise Hill Resources的東西擁有，Rio擁有51%的股份。

Turquoise Hill, meanwhile, has lent Mongolia billions of dollars so it can pay for its share of the investment if you're keeping up.

同時，綠松石山已經借給蒙古數十億美元，所以如果你跟得上，它可以支付它的投資份額。

The main problem right now is that a Mongolians have realized that they will have to pay back this debt before they get any dividends, which has left him extremely angry.

現在最主要的問題是，一個蒙古人已經意識到，他們必須在得到任何紅利之前償還這筆債務，這讓他非常憤怒。

Be Rio recently mentioned that the cost of the project has gone up, making things even worse.

貝里歐最近提到，工程成本上漲，讓事情變得更加糟糕。

On DSI, there's a funding gap of $3 billion as per usual in sticky situations.

在DSI上，照舊有30億的資金缺口，在粘稠的情況下。

Hedge funds of buzzing around those holding minority stakes and turquoise want Rio to use more debt to plug a funding gap.

嗡嗡嗡那些持有少數股權和綠松石的對沖基金希望里約使用更多的債務來填補資金缺口。

OD Asset Management, which is short turquoise, wants a big rights issue which would dilute turquoise minorities.

OD資產管理公司做空綠松石，要大發權利，這將稀釋綠松石少數派。

Whatever happens, he should push for a chunk of future Oyo Tolgoi dividends to be diverted towards Mongolia's coffers.

無論發生什麼事情，他都應該推動將未來奧尤陶勒蓋的紅利中的一部分轉入蒙古國的財政。

Second, raising equity rather than debt will probably make future crises easier to resolve.

其次，舉牌而非舉債，可能會使未來的危機更容易解決。

 There's no way to do this without leaving one set of stakeholders hopping mad, but if he wasn't prepared to do that, he shouldn't have taken the job in the first place. 

不讓一撥撥的利益相關者瘋狂跳槽是沒有辦法的，但如果他不準備這麼做，當初就不應該接受這份工作。