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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Rio Tinto Limited | ASX:RIO | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.60 | 1.36% | 118.91 | 118.89 | 118.91 | 119.26 | 117.00 | 117.59 | 1,174,999 | 02:33:21 |
From Mar 2022 to Mar 2025
By Kyle Morris
Rio Tinto PLC said in an open letter to shareholders Tuesday that over the next two years Turquoise Hill will need an additional $3.6 billion in funding to unlock the long-term potential of the Oyu Tolgoi copper and gold project in Mongolia.
The company said its bid for Turquoise Hill of $43 Canadian dollars ($31.38) in cash a share is its best and final offer. It said its proposal fully values the long term potential of Oyu Tolgoi and Turquoise Hill.
If the proposal isn't accepted, Turquoise Hill will need to contribute at least $1.1 billion in the first half of 2023, via new equity through placings or rights issues, Rio Tinto said.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
October 25, 2022 13:48 ET (17:48 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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