Ar Fawrth 14, cyhoeddodd Rio Tinto ei fod wedi gwneud cynnig nad yw’n rhwymo i fwrdd Turquoise Hill i gaffael tua 49 y cant o’r cyfrannau sy’n weddill o Turquoise Hill nad yw eisoes yn berchen arnynt. Bydd cyfranddalwyr lleiafrifol turquoise Hill yn derbyn cyfranddaliad C 34 mewn arian parod, premiwm o 32 y cant i'r pris cau diwethaf, am gyfanswm ystyriaeth o US 2.7 biliwn.
The proposed deal follows a comprehensive agreement recently reached between Rio Tinto, Turquoise Mountain and the Mongolian government to advance the OT project, reset the relationship between the partners and approve the start of underground operations. It will simplify the ownership structure of the Oyu Tolgoi (OT) project, in order to create a more effective ownership and governance structure, strengthen Rio's copper portfolio and strengthen its long-term commitment to Mongolia, while giving minority shareholders the ability to develop underground operations while the inherent uncertainties remain. To achieve convincing, immediate and certain value for its shares. If the proposed deal is completed, Rio would own 66 per cent of the OT project, with Mongolia owning the remaining 34 per cent.
The OT mine is one of the largest known copper and gold deposits in the world and one of Rio's most important assets, producing nearly 500,000 tonnes of copper a year when the expansion is completed.
Dywedodd JakobStausholm, prif weithredwr Rio:
"Rio Tinto firmly believes in the long-term success of OT and Mongolia and is committed to all stakeholders for the long term. That is why we are increasing our stake in OT, simplifying the ownership structure and further strengthening Rio's copper portfolio. We believe the terms of the proposal are attractive to Turquoise Hill shareholders.
"The proposed transaction will enable Rio Tinto to work directly with the Mongolian government to advance the OT project with a simpler and more efficient ownership and governance structure. This transaction demonstrates our clear and unambiguous long-term commitment to Mongolia as our relationship resets and underground operations begin."
Dywedodd Rio tinto ei fod yn edrych ymlaen at weithio'n adeiladol gyda bwrdd Turquoise Hill i symud y trafodiad arfaethedig yn ei flaen. Os na fydd buddsoddwyr turquoise Hill yn derbyn y trafodiad arfaethedig, mae Rio yn eu croesawu i barhau i fuddsoddi a rhannu risgiau a rhwymedigaethau ariannu yn y dyfodol yn gyfartal.
Mae Rio yn berchen ar tua 51 y cant o Turquoise Mountain ac mae ganddo hawliau gwrth-wanhau sy'n caniatáu iddo gael cyfranddaliadau ychwanegol yn turquoise Mountain er mwyn cynnal ei gyfran o bryd i'w gilydd. Ni ddaethpwyd i gytundeb rhwng Rio tinto a Mynydd Turquoise ac nid oes unrhyw sicrwydd y bydd unrhyw drafodion yn deillio o'r trafodaethau hyn. Bydd y trafodiad yn ddarostyngedig i amodau cau arferol a rhaid ei gymeradwyo gan bleidleisiau (I) 66 2/3 y cant neu fwy o ddeiliaid cyfranddaliadau Turquoise Hill a (ii) mwyafrif o gyfranddalwyr lleiafrifol Turquoise Hill yn pleidleisio yn y cyfarfod ar gyfer pob cyfran.
Mae'n werth nodi, er mai Rio Tinto yw cyfranddaliwr mwyafrif absoliwt Turquoise Hill, nid yw buddiannau'r ddau yn union yr un peth, ac fe wnaethant hyd yn oed ffeilio achos cyfreithiol dros ehangu mwynglawdd OT. Ym mis Ebrill y llynedd, ar ôl cyfres o achosion cyfreithiol a thrafodaethau, cytunodd Rio tinto a Turquoise Mountain ar gynllun ariannu ar gyfer yr ehangu, gan fynd i'r afael â'r anghenion ariannu hysbys sy'n weddill o tua 2.3bn yn seiliedig ar femorandwm cyd-ddealltwriaeth a lofnodwyd yn 2020. Y partïon cytuno i gael gorchymyn ar y cyd yn dirymu'r gorchymyn cyflafareddu a mesurau dros dro ar sail deg.
Pentwater Capital, a US activist investor that owns 9 per cent of Turquoise Mountain, accused Rio of hiding the true cause of the project's delays, increased its budget from 5.3bn to 6.45bn and filed a class-action lawsuit demanding damages.
In January, Pentwater wrote to a Rio board member arguing that Rio's corporate governance had continued to fail. Rio tinto said its directors would not comment. Pentwater has not commented on how it intends to vote on the proposed deal.
