RIO News: Rio Tinto rebuffed in plan to take control of Mongolia copper project - 15th Aug 2022, 5:41pm

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Rio Tinto’s plan to take direct ownership of a copper mine in Mongolia has hit the buffers after its $2.7bn buyout proposal was rejected. Turquoise Hill Resources said a special committee had “terminated” its review of Rio’s C$34-per-share cash offer, saying it did not “fully and fairly reflect” the value of its holding in Oyu Tolgoi. “A transaction at the price proposed by Rio Tinto would not fairly compensate minority shareholders for the fundamental, long-te...

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