(Adds details, background)
March 14 (Reuters) - Rio Tinto (RIO) on Monday proposed to buy 49% of Canada's Turquoise Hill TRQ.TO it does not already own for about $2.7 billion, as the Anglo-Australian miner looks to ramp up the Oyu Tolgoi copper-gold mining project in Mongolia.
The non-binding, C$34 per share offer represented a more than 32% premium to Turquoise Hill's Friday close, and follows Rio Tinto's settlement with the Mongolian government in January of a long-running dispute over the $6.93 billion expansion of the Oyu Tolgoi project.
"Rio Tinto strongly believes in the long-term success of Oyu Tolgoi and Mongolia... That is why we want to increase our interest in Oyu Tolgoi, simplify the ownership structure," the company said.
News: RIO UPDATE 1-Rio Tinto offers $2.7 bln to buy rest of Turquoise Hill stake
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Last
$114.57 |
Change
-2.370(2.03%) |
Mkt cap ! $42.53B | |||
| Open | High | Low | Value | Volume |
| $115.00 | $115.51 | $114.22 | $167.6M | 1.459M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 17339 | $114.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $114.90 | 4615 | 1 |
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| Last trade - 16.10pm 10/09/2025 (20 minute delay) ? |
| RIO (ASX) Chart |