The deal was also approved by about 60.5% of the votes from minority shareholders, the Canadian miner said.
The vote clears the way for global mining giant Rio Tinto to gain more autonomy over Oyu Tolgoi, which is 66% owned by Turquoise Hill and 34% by the Mongolian government, and operated by Rio.
However, the take-private process has not been straightforward.
Friday’s shareholder meeting was repeatedly delayed due to opposition of key minority shareholders of Turquoise Hill, including funds Pentwater Capital and SailingStone Capital.
Rio Tinto had agreed to let the two dissenting parties withhold their votes and make claims via an arbitration process, a deal that was subsequently scrapped as it raised regulatory concerns.
The mining giant has had a rocky relationship with Turquoise Hill in the past on how to fund Oyu Tolgoi’s $7-billion mine expansion plan.
Rio Tinto and Mongolia also settled a long-running dispute in…
