1 MONGOLIA’S ECONOMY CONTINUES TO PICK UP, BUT GROWTH REMAINS UNEVEN WWW.MONTSAME.MN PUBLISHED:2023/11/28      2 IVANHOE TO START COPPER EXPLORATION IN ANGOLA WWW.MINING.COM PUBLISHED:2023/11/28      3 MONGOLIA TO START ULAANBAATAR METRO NEXT YEAR WWW.GLOBALCONSTRUCTIONREVIEW.COM PUBLISHED:2023/11/28      4 MONGOLIA DECLARES 2024 YEAR OF GOBI BEAR PROTECTION WWW.AKIPRESS.COM PUBLISHED:2023/11/28      5 CHINA'S RENEWABLE ENERGY BOOM CASTS A LONG SHADOW OVER MONGOLIA WWW.MONGOLIAWEEKLY.ORG PUBLISHED:2023/11/28      6 MONGOLIA TO ENJOY EU’S GSP+ UNTIL 2027 WWW.MONTSAME.MN PUBLISHED:2023/11/28      7 HONORARY CONSULATE OF MONGOLIA OPENS IN TORONTO WWW.AKIPRESS.COM PUBLISHED:2023/11/27      8 NATIONAL LIBRARY OF MONGOLIA DIGITALIZES OVER 2 MILLION PAGES OF SUTRAS WWW.AKIPRESS.COM PUBLISHED:2023/11/27      9 SHANNON STOWELL: THERE IS A HUGE OPPORTUNITY TO PROMOTE MONGOLIA TO INTERNATIONAL TOUR OPERATORS WWW.MONTSAME.MN PUBLISHED:2023/11/27      10 TOTAL BUDGET REVENUE INCREASED BY 40.2% FROM LAST YEAR WWW.GOGO.MN PUBLISHED:2023/11/27      ВАЛЮТЫН ДУУДЛАГА ХУДАЛДААГААР 71 САЯ АМ.ДОЛЛАР НИЙЛҮҮЛЭВ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2023/11/26     Б.ЛХАГВАСҮРЭН: ИРЭХ ОНД ОЛГОХ ИПОТЕКИЙН ЗЭЭЛИЙН ЭХ ҮҮСВЭР 600-620 ТЭРБУМ ТӨГРӨГ БАЙНА WWW.IKON.MN  НИЙТЭЛСЭН:2023/11/26     "ХҮНСНИЙ ХУВЬСГАЛ"-ЫН ХҮРЭЭНД 574 ТЭРБУМ ТӨГРӨГИЙН ЗЭЭЛ ОЛГОЖЭЭ WWW.EAGLE.MN  НИЙТЭЛСЭН:2023/11/26     УРАНЫ ҮНЭ ХАНШ ТОГТВОРТОЙ ӨССӨӨР БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2023/11/26     KIGAM: МОНГОЛ УЛС ХОВОР МЕТАЛЛЫН НӨӨЦ ИХТЭЙ Ч БОЛОВСРУУЛАХ ТЕХНОЛОГИ, ХҮНИЙ НӨӨЦ ДУТМАГ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2023/11/26     ГАМШИГ, АЮУЛТ ҮЗЭГДЛИЙН УЛМААС 2001-2022 ОНД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГТ ₮802.9 ТЭРБУМЫН ХОХИРОЛ УЧИРЧЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2023/11/26     МОНГОЛ УЛСЫН ЗАСГИЙН ГАЗАР 2024 ОНД ХУГАЦАА НЬ ДУУСАХ "ХУРАЛДАЙ" БОНДОО БУЦААН ХУДАЛДАН АВАХ САНАЛ ТАВИЛАА WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2023/11/26     “УБТЗ” ХНН: ТЭЭВРИЙН ХЭМЖЭЭ ӨСӨЖ, АЧИЛТЫН ЗАХИАЛГА ОГЦОМ НЭМЭГДЭЖ БАЙНА WWW.IKON.MN  НИЙТЭЛСЭН:2023/11/26     МОНГОЛБАНК: БЭЛЭН БУС ГҮЙЛГЭЭНИЙ ҮНИЙН ДҮН 2027 ОН ХҮРТЭЛ ЖИЛД 18 ХУВИАР ӨСӨХ ТӨЛӨВТЭЙ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2023/11/22     ТАВАНТОЛГОЙ-ГАШУУНСУХАЙТЫН ТӨМӨР ЗАМЫН АЖЛЫН БОДИТ ГҮЙЦЭТГЭЛЭЭС ₮57 ТЭРБУМЫН САНХҮҮЖИЛТИЙГ ИЛҮҮ ОЛГОЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2023/11/22    

Rio Tinto-Turquoise Hill takeover vote set for November 1 www.mining.com

Turquoise Hill Resources (NYSE:TRQ) announced on Friday the receipt of an interim court order for its proposed plan of arrangement with Rio Tinto (NYSE:RIO), which would see the Anglo-Australian giant acquire the 49% of shares of TRQ that it does not already own.
The order calls for a special meeting of TRQ shareholders to be held on Nov 1 with shareholders of record as of the close of business on September 19 entitled to participate and cast their votes.
Under the sweetened deal, which has the blessing of the TRQ board, Rio Tinto will pay C$43 per share in cash, a more than 19% premium to the stock’s end-of-August closing price and a 67% premium from the day before the initial offer was made.
The deal, valued at $3.3 billion, gives Rio Tinto a 66% stake in the giant Oyu Tolgoi mine in Mongolia, one of the world’s largest known copper and gold deposits. The remaining 34% is owned by the Mongolian government.
Rocky road to expansion
Rio Tinto has had a rocky relationship with the Montreal-based miner, particularly over how to fund Oyu Tolgoi’s expansion. Rio has also drawn criticism from some of Turquoise Hill’s minority shareholders about the control it exerts over the company.
Rio Tinto, which has mined copper from Oyu Tolgoi’s open pit for a decade, and the Mongolian government ended earlier this year a long-running dispute over the $7 billion expansion of the mine.
Once completed, the underground section of Oyu Tolgoi will lift production from 125,000–150,000 tonnes in 2019 to 560,000 tonnes at peak output, which is now expected by 2025 at the earliest. This would make it the biggest new copper mine to come on stream in several years.
Rio Tinto chief executive Jakob Stausholm has said the proposed takeover would simplify governance, improve efficiency and create greater certainty of funding for the long-term success of the Oyu Tolgoi project.


Published Date:2022-10-02