TRQ Turquoise Hill Resources Ltd

By Adriano Marchese

Turquoise Hill Resources Ltd. said Monday it will establish a special committee to review Rio Tinto PLC's offer to acquire the remaining 49% of the company.

The Canadian miner said the committee will comprise independent directors, who will review and consider the proposal.

Earlier on Monday, the U.K. miner offered a premium of 34 Canadian dollars (US$26.68) in cash a share for Turquoise Hill, which would value the company at about $2.7 billion.

Turquoise Hill is a mining company focused on the operation and development of the Oyu Tolgoi copper-gold mine in Mongolia, in which it holds a 66% interest, with a Mongolian state-owned entity owning the remainder.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

March 14, 2022 08:06 ET (12:06 GMT)

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