PLC offered to pay roughly $2.7 billion to buy out minority shareholders in Canada’s
Resources Ltd., which controls a giant copper-mining operation in Mongolia, a bet on copper being in high demand.
Rio Tinto’s proposal to take over the company in which it owns about 51% comes as commodity prices are running hot, fanned by concerns that Russia’s invasion of Ukraine could disrupt supplies. Russia is an important producer and exporter of a number of commodities, including copper, whose price is close to record highs.
Rio Tinto Chief Executive
Jakob Stausholm
said a takeover of Turquoise Hill would strengthen the company’s copper portfolio.
Turquoise Hill controls Oyu Tolgoi, a…
