Rio Tinto seals drawn-out Turquoise Hill deal for larger stake in Oyu Tolgoi motherlode

Rio Tinto seals drawn-out Turquoise Hill deal for larger stake in Oyu Tolgoi motherlode

16 Dec    Finance News, Physics

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Rio Tinto Ltd. said on Friday it had completed its long drawn-out acquisition of the remaining 49 per cent stake in Turquoise Hill Resources, giving the Anglo-Australian firm a 66 per cent share of Mongolia’s Oyu Tolgoi, the world’s largest-known copper and gold deposit.

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Turquoise Hill shareholders last week voted in favour of Rio Tinto’s US$3.3 billion bid to take the Canadian company private after months of back and forth.

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