Posts Tagged ‘rio tinto’

Shares of Canada's Ivanhoe Mines Ltd. Full story

World number three miner Rio Tinto has taken a majority stake in Ivanhoe Mines, its partner on the Mongolian Oyu Tolgoi project, purchasing a 51% interest. The move comes after Ivanhoe scrapped a controversial “poison pill” shareholder provision clearing the way for Rio, which already owned 49% of the Vancouver-based company, to do a complete takeover. Rio paid $20/share for the additional 2%. Full story

The Globe & Mail reports Ivanhoe Mines, building Mongolia’s Oyu Tolgoi, will scrap a controversial “poison pill” shareholder provision that clears the way for Rio Tinto, which already owns 49% of the Vancouver-based company, to do a complete takeover. According to calculations by Credit Suisse, reported by the Globe & Mail the poison pill plan would have required $73 billion of funding from shareholders ... Full story

The year of peak construction activity at Oyu Tolgoi mine in the Gobi desert of Mongolia (IM April and May issues this year) is nearing its end, with the project approximately three-quarters complete. A great deal has been accomplished this year, and over the last ten years since the first discoveries were made by Ivanhoe at Oyu Tolgoi. Full story

It has been said that the best place to look for a new mine is next to an existing mine. Full story

"Rio Tinto is currently examining the decision but can confirm an independent arbitrator has upheld our claim in respect of Ivanhoe Mines' Shareholder Rights Plan," the global miner said in a statement emailed to Reuters. Full story

Washington lawmakers are voting today on a bill to approve a land exchange that would clear the way for what would be North America's largest copper mine. Full story

News reports on Saturday say Rio Tinto's Zimbabwe subsidiary Murowa Diamonds has ceded 51% of its equity to comply with a new law that requires Zimbabweans to own the majority of foreign companies. Rio Tinto says on its website it has completed a feasibility study and received environmental go-ahead to expand Murowa production 8-fold at a cost of $200 million. Full story

%content%Read more here:Rio Tinto plans to sell 'a lot' Of Oyu Tolgoi output to China Full story

Rio Tinto PLC (RIO) has appointed John Varley, the former chief executive of Barclays PLC (BARC.LN), as a non-executive director to Rio Tinto's board of directors in the U.K. and Australia, starting Sep 1 Full story