Loading ...Rio Tinto (ASX, LON: RIO) is now the majority owner of the giant Oyu Tolgoi copper-gold mine in Mongolia, as it has completed its $3.3 billion buyout of Canadian miner Turquoise Hill Resources (TSX, NYSE: TRQ).
Shareholders of the Montreal-based approved on Monday the deal that gives Rio Tinto control over the world’s largest known copper and gold deposit, with a 66% direct interest.
The remaining 34% is owned by the Government of Mongolia through Erdenes Oyu Tolgoi.