Rio going ahead with $2.4-billion rights offer for Mongolia mine

Posted on November 27, 2013 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

urquoise Hill Resources, the Rio Tinto Group unit that operates the Oyu Tolgoi copper mine in Mongolia, will proceed with a $2.4-billion rights offer to repay credit facilities.

Investors will get one right for each Turquoise Hill share, entitling them to buy another share for $2.40 US, the Vancouverbased company said Tuesday. That represents a discount of 42 per cent to Monday’s closing prices in New York and Toronto respectively.