Rio Tinto Unit Leads Mining Stock Gains on Push for Gobi Riches
- Turquoise Hill soars this week amid Rio Tinto stake rumors
- ‘A lot of people’ have interest, miner’s CEO says in interview
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The best bet among Americas mining stocks this week is the owner of a giant copper deposit in the Gobi Desert, a sign the industry is entering a new phase after years of cutbacks.
Turquoise Hill Resources Ltd. surged as much as 30 percent since Monday, when reports emerged that its controlling shareholder Rio Tinto Group is looking into taking the Vancouver-based company private by increasing its stake and bringing in a partner. Goldman Sachs Group Inc. was hired to advise on the proposal, a person with knowledge of the matter said.