Rio Tinto agrees to buy remaining Turquoise Hill stake for $3.3bn - 01 septembrie 2022
Rio Tinto has agreed to pay $3.3bn to take full ownership of Canadian miner Turquoise Hill, giving it greater control over the vast Oyu Tolgoi copper mine in Mongolia. Turquoise Hill holds 66 per cent of the Oyu Tolgoi project, one of the world’s largest known copper and gold deposits located in the Gobi desert.
The Mongolian government owns the remaining stake in the project. Rio Tinto chief executive Jakob Stausholm said the deal “will simplify governance, improve efficiency and create greater certainty of funding for the long-term success of the Oyu Tolgoi project”.
It will make the site one of the biggest copper mines in the world, producing at peak capacity 500,000 tonnes of the metal annually.
(US.RIO)