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Turquoise Hill Shares Surged More Than 30% in Premarket Trading

Tiger Newspress2022-03-14

Turquoise Hill shares surged more than 30% in premarket trading.

Rio Tinto Group is offering to pay $2.7 billion to buy out minorities in Turquoise Hill Resources Ltd., which holds a majority stake in the giant Mongolian copper project Oyu Tolgoi.

Rio has offered C$34 ($26.60) a share in cash for about 49% of Turquoise Hill, the mining company said in a statement on Monday.

Rio will start work on a long-delayed $6.9 billion underground expansion of its giant Oyu Tolgoi copper operation, after sealing a deal in January that waives debt owed by the Mongolian government to the troubled project.

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Comment7

  • DaphneTan
    ·2022-03-14
    Great article!
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  • Lulup
    ·2022-03-14
    good
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  • Lulup
    ·2022-03-14
    great
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  • SSSG
    ·2022-03-14
    Good
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  • Greg2021
    ·2022-03-14
    Wow
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  • Vincent1968
    ·2022-03-14
    Like 
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  • Karenchong
    ·2022-03-14
    Good
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