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RUMOURS are swirling Rio Tinto is about to force a rights issue on cash-strapped Canadian offshoot, Turquoise Hill Resources (TH), the TSX-listed company whose only asset is Oyu Tolgoi - Rio’s flagship copper-gold growth project in Mongolia.
Rio CEO J-S Jacques at Oyu Tolgoi in Mongolia
Turquoise is hardly an independent entity despite its separate listing as Rio controls 51% and operates the mine, where there have been embarrassing cost overruns and rows with Ulan Bator about the
Latest economics for Rio's major growth project unveiled
