Report: Rio Tinto considering making a bid for Turquoise Hill

|About: Turquoise Hill Resources Ltd. (TRQ)|By:, SA News Editor

Turquoise Hill Resources (TRQ) +4.1% AH on speculation from the Daily Mail that Rio Tinto (RIO) is preparing to bid ~$8/share for the outstanding 49.2% of the company it doesn't already own.

Billionaire Robert Friedland holds 3% of TRQ is said to have been against selling out to RIO until recently.

TRQ holds 66% of the massive Oyu Tolgoi copper and gold mine, but progress on the $6B second stage of the project has been held up by RIO’s inability to strike an agreement with the Mongolian government.