Rio Tinto has completed its acquisition of Turquoise Hill Resources for a consideration of approximately AUD 3.1 billion, simplifying its ownership of the world-class Oyu Tolgoi mine in Mongolia, significantly strengthening Rio Tinto’s copper portfolio, and demonstrating its long-term commitment to the project and Mongolia.Rio Tinto now holds a 66% direct interest in the Oyu Tolgoi project with the remaining 34% owned by the Government of Mongolia through Erdenes Oyu Tolgoi. The transaction closed following approval from the Yukon court in Canada and the majority of TRQ minority shareholders supporting the deal.Turquoise Hill has become a wholly owned subsidiary of Rio Tinto and Turquoise Hill shares will cease trading.
Rio Tinto has completed its acquisition of Turquoise Hill Resources for a consideration of approximately AUD 3.1 billion, simplifying its ownership of the world-class Oyu Tolgoi mine in Mongolia, significantly strengthening Rio Tinto’s copper portfolio, and demonstrating its long-term commitment to the project and Mongolia.Rio Tinto now holds a 66% direct interest in the Oyu Tolgoi project with the remaining 34% owned by the Government of Mongolia through Erdenes Oyu Tolgoi. The transaction closed following approval from the Yukon court in Canada and the majority of TRQ minority shareholders supporting the deal.Turquoise Hill has become a wholly owned subsidiary of Rio Tinto and Turquoise Hill shares will cease trading.
