Rio Tinto receives shareholder support for acquisition of Turquoise Hill

Given the transaction is being conducted by way of a Canadian plan of arrangement, it remains subject to the final approval of the Supreme Court of Yukon with a hearing scheduled for 14 December. Completion of the acquisition is expected in the days following court approval, after customary closing procedures.

Rio Tinto Copper Chief Executive, Bold Baatar, said:

“We welcome the support from minority shareholders, which is a key milestone in our acquisition of Turquoise Hill Resources. This transaction will deliver significant benefits for all shareholders, and allow us to progress the Oyu Tolgoi project in partnership with the Government of Mongolia, with a simpler and more efficient governance and ownership structure.”

Read the article online at: https://www.globalminingreview.com/mining/13122022/rio-tinto-receives-shareholder-support-for-acquisition-of-turquoise-hill/