Alberta to introduce ‘modern’ coal policy, including ban on new open-pit projects
The new policy will not affect those qualified as "advanced coal projects" such as the controversial Grassy Mountain mine.
Canadian miner Turquoise Hill Resources Ltd said on Tuesday it would delay by a week to Nov. 8 a special shareholder meeting to vote on a proposed takeover by Rio Tinto Plc following a request from the mining giant.
Rio has proposed a $3.3 billion deal for Turquoise Hill shares it does not already own, seeking a 66% stake in Oyu Tolgoi in Mongolia, the world’s largest known copper and gold deposits.
Rio raised its offer to C$43-per-share but still faces opposition from multiple parties including Turquoise Hill’s second-largest shareholder Pentwater Capital Management, as well as proxy advisor Institutional Shareholder Services (ISS).
(By Ruhi Soni; Editing by Sriraj Kalluvila)
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