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Rio Tinto boosted as copper dissidents lay down their guns

Peter Ker

Rio Tinto’s bid to complete a takeover of Turquoise Hill Resources has received a boost after the most vocal opponents of the deal agreed not to vote at the shareholder meeting that will determine whether the $US3.3 billion deal goes ahead.

Rio has owned almost 51 per cent of Canadian listed Turquoise Hill for a decade but this year moved to acquire the remaining 49 per cent as part of efforts to simplify the ownership structure of Mongolia’s Oyu Tolgoi copper mine.

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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com

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    Original URL: https://www.afr.com/companies/mining/rio-tinto-boosted-as-copper-dissidents-lay-down-their-guns-20221102-p5buwk