Rio Tinto Increases Ownership in Ivanhoe Mines to 22.4%
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Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN)reported that the company has entered into an agreement to issue 15 million common shares to Rio Tinto at CDN$16.31 per share, for net proceeds of CDN$244.7 million.
The press release is quoted as saying:
Ivanhoe Mines is an international mining company with operations focused in the Asia Pacific region. Ivanhoe’s core assets include its world-scale Oyu Tolgoi copper and gold mine development project in southern Mongolia. Ivanhoe Mines’ other core assets are its 65% interest in Mongolian coal miner SouthGobi Energy Resources (TSX:SGQ); its 81% interest in Ivanhoe Australia (ASX:IVA), a copper-gold-uranium-molybdenum-rhenium exploration and development company; and its 49% interest in Altynalmas Gold Ltd., a private company developing the Bakyrchik and the Bolshevik gold mining projects in Kazakhstan.
Click here to access the entire press release
Click here to access Ivanhoe Mines Corporate Site
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