Rio Tinto to acquire 49% of Turquoise Hill for $3.3 billion
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Rio strikes deal on buyout of copper developer Turquoise Hill Resources, clearing the way to unlock the full potential of the Oyu Tolgoi mine in Mongolia.
Rio Tinto moves to win full ownership of Canadian miner Turquoise Hill to solidify its grip on one of the largest copper and gold deposits in the world.
The agreement, subject to shareholders' vote, would make Rio direct owner of the giant Oyu Tolgoi copper-gold mine in Mongolia.
Rio improved its offer to $43 per share from the $40 it proposed on Aug. 24. Find out more