Jun 09, 2025 (The Weekend Australian - ABIX via COMTEX) --
Rio Tinto is understood to be ready to settle a lawsuit that has been led by Florida-based hedge fund Pentwater Capital Management and was launched in 2022 by investors in a company called Turquoise Hill. The lawsuit relates to allegations that Rio withheld information about cost blowouts and delays with its Oyu Tolgoi copper mine project in Mongolia; Rio gained control of the project and became its operator in 2012 by acquiring a 50.7 per cent stake in a company later renamed Turquoise Hill, with Rio acquiring the remainder of Turquoise Hill for $US3.1bn in December 2022. News that Rio is prepared to settle the lawsuit comes as it is looking to appoint a successor to Jakob Stausholm as its CEO..
Publication Date: 7 June 2025
RIO TINTO LIMITED - ASX RIO
TURQUOISE HILL RESOURCES LIMITED
ENTREE RESOURCES
COMTEX_466230248/2229/2025-06-09T18:10:13
By Brad Thompson
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