1 MONGOLIAN PRESIDENT SAYS HE SUPPORTS RUSSIA-CHINA OIL AND GAS PIPLINES THROUGH MONGOLIA WWW.REUTERS.COM  PUBLISHED:2022/12/01      2 TALON RAISES CASH AS IT TAKES STAKE IN MONGOLIAN PROJECT WWW.MININGWEEKLY.COM PUBLISHED:2022/12/01      3 MONGOLIA’S EFFORTS TOWARD ENSURING IMPLEMENTATION OF BWC PRESENTED WWW.MONTSAME.MN PUBLISHED:2022/12/01      4 AT LEAST ONE KILLED DUE TO A FIRE AT AN OIL STORAGE FACILITY IN DARKHAN DEC. 1 WWW.CRISIS24.GARDA.COM PUBLISHED:2022/12/01      5 "ROAD TO ONE – MONGOLIA 2022” WAS SUCCESSFULLY ORGANIZED AT STEPPE ARENA WWW.NEWS.MN PUBLISHED:2022/12/01      6 NEW VU-UBMK PARTNERSHIP EXPANDS INTERNATIONAL OPPORTUNITIES FOR STUDENTS IN MONGOLIA WWW.VINU.EDU  PUBLISHED:2022/12/01      7 CHINA, MONGOLIA TO EXPAND COAL TRADE, SIGN MORE LONG-TERM CONTRACTS WWW.SXCOAL.COM PUBLISHED:2022/12/01      8 JAPAN EMPEROR, EMPRESS MEET MONGOLIAN PRES. AT PALACE WWW.NIPPON.COM PUBLISHED:2022/12/01      9 CHINA-MONGOLIA FREIGHT TRAIN DEPARTING FROM E CHINA'S LIANYUNGANG PORT RECORDS OVER 80 TRIPS THIS YEAR WWW.ENGLISH.WWW.GOV.CN PUBLISHED:2022/11/30      10 BROAD MEETS NORMAL GAUGE AT NEW BORDER POINT CHINA-MONGOLIA WWW.RAILFREIGHT.COM PUBLISHED:2022/11/30      147 МЯНГАН ТОНН ХҮНСНИЙ НОГОО ХУРААН АВЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2022/12/01     ГУРИЛЫН ҮЙЛДВЭРҮҮДЭД 160 МЯНГАН ТОНН УЛААНБУУДАЙ НИЙЛҮҮЛЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2022/12/01     АЯЛАЛ ЖУУЛЧЛАЛЫН САЛБАРТ ₮55 ТЭРБУМЫН ХӨНГӨЛӨЛТТЭЙ ЗЭЭЛ ОЛГОНО WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2022/12/01     ОНЫ ЭХНЭЭС ХОЙШ 26.2 САЯ ТОНН НҮҮРС ЭКСПОРТЛООД БАЙНА WWW.NEWS.MN  НИЙТЭЛСЭН:2022/12/01     НҮБХХ: МОНГОЛЫН НОГООН ХӨГЖЛИЙН ЗОРИЛТУУД ХЭТ ӨӨДРӨГ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2022/12/01     ЭРЧИМ ХҮЧНИЙ ШУГАМ СҮЛЖЭЭ, СТАНЦУУДЫГ ШИНЭЧЛЭХЭД $161 САЯЫН САНХҮҮЖИЛТ ШААРДЛАГАТАЙ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2022/12/01     ХЭРЭГЛЭЭНИЙ БАРАА, ҮЙЛЧИЛГЭЭНИЙ ҮНЭ 1.3-14.5 ХУВИАР НЭМЭГДЖЭЭ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2022/12/01     БНХАУ РУУ ДУЛААНЫ АРГААР БОЛОВСРУУЛСАН 26 ЧИНГЭЛЭГ МАХ ГАРГАЖЭЭ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2022/12/01     ЭРЧИМ ХҮЧНИЙ АЧААЛАЛ ӨЧИГДӨР ОРГИЛДОО ХҮРЧ, 40 МВТ-ААР ӨСЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2022/11/30     2022 ОН ГАРСААР УЛСЫН ХЭМЖЭЭНД НҮҮРСНИЙ ЭКСПОРТ 26.3 САЯ ТОНН БОЛЖ, 73 ХУВИАР ӨСӨВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2022/11/30    

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