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Rio Tinto readies for Mongolia pounce
March 10, 2014 15:58
The Australian reported that Rio Tinto is edging closer to snaffling the stake in Canada's Turquoise Hill Resources it does not already own in a move to shore up its exposure to key copper asset Oyu Tolgoi as it tries to counter a predicted drop in the iron ore price. Rio Tinto will make cash of fer of about CAD 8 per share for the group which would value the stake at CAD 19.09 billion. The remaining 49.2% stake in Toronto Exchange listed Torquoise is currently valued at CAD 4.495 billion,...
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