CRA assisted counsel to dissenting minority shareholders in a multi-billion arbitration claim related to the acquisition by Rio Tinto, the majority shareholder of all outstanding shares of a copper mining company, Turquoise Hill Resources, which holds one of the world’s five largest copper producing assets, Oyu Tolgoi.
James Burrows and Tiago Duarte-Silva submitted expert reports on dissent rights and on oppression damages. These reports involved assessing the fair market value of the shares and various causes of oppression damages, including the respondent’s measures to lower the company’s value before offering to acquire its shares.
Their work involved an extensive analysis of the copper mining industry, benchmarking the performance of the world’s top producing projects, identifying comparable companies and transactions, and stress testing different valuation methods.
They counted on the assistance of Mike Loreth, Rahul Chhabra, Saurabh Singh, Kyle Calder, Tahsin Anjun, Elias Sekkal, Michelle Sandoval Siman, Alene Hanson, Saumya Sharma, Ken Morotomi, and Miagoto Nemadjilembaye.
