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Market Report -- In Play (IVN)
Ivanhoe Mines: Rio Tinto increases ownership in Ivanhoe Mines to 22.4% with USD232 mln
March 1, 2010 8:17 AM ET
Ivanhoe Mines: Rio Tinto increases ownership in Ivanhoe Mines to 22.4% with USD232 mln purchase of shares Co announced today that the it has entered into an agreement to issue 15 mln common shares to Rio Tinto at CDNUSD16.31 per share, for net proceeds of CDNUSD244.7 mln (USD232.4 mln). Ivanhoe Mines will use the proceeds to purchase from Rio Tinto key mining and milling equipment to be installed during the construction of the Oyu Tolgoi copper-gold mining complex in Mongolia.
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