Rio Tinto Adds $935M To Mongolian Mine Investment

Law360, New York (July 30, 2012, 2:32 PM EDT) -- Rio Tinto PLC has paid $935 million to hang onto its 51 percent stake in Ivanhoe Mines Ltd., which on Friday closed a $1.8 billion equity raise to pay for development at its Mongolian copper and gold mine, Rio Tinto said Monday.

The mine's operator, Rio Tinto said it bought about 135 million new shares, just more than half of the 259.6 million shares offered by Vancouver-based Ivanhoe in a fully subscribed offering. The deal maintains Rio Tinto's stake in Ivanhoe and its Oyu Togloi mine,...
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