Rio Tinto’s £2.2bn bid for Mongolian copper site is knocked back


Setback for Rio Tinto as miner’s £2.2bn buyout bid for Mongolian copper site is rejected

Rio Tinto has suffered another setback after its £2.2biliion bid to take control of a Mongolian copper project was rebuffed.

The FTSE 100 miner said it was ‘disappointed’ its plan to buy the 49 per cent stake in Canadian mineral explorer Turquoise Hill it does not already own has been rejected.

Turquoise Hill owns 66 per cent of the Oyu Tolgoi site in the Gobi Desert, one of the largest copper and gold deposits in the world, with Mongolia’s government…



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