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Anglo Pacific carves out niche in mining sector

admin — Sun, 05 Feb 2012 15:31:00 +0000

0 Comments Tweet Share Digg Yahoo! Buzz MySpace del.icio.us Reddit LinkedIn Fark StumbleUpon Newsvine new Portfolio RelevanceLEARN MORE Want to see how this story relates to your portfolio? Just add items to create a portfolio now: XAddRio Tinto PLC ADS…
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Anglo Pacific carves out niche in mining sector

Ivanhoe Mine shares surge on Rio Tinto takeover

admin — Fri, 27 Jan 2012 03:25:00 +0000

Shares of Canada’s Ivanhoe Mines Ltd. gained more than 5 percent in aftermarket trading on Thursday after majority shareholder Rio Tinto PLC disclosed that it is reviewing the company’s board and management structure in advance of likely changes….
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Ivanhoe Mine shares surge on Rio Tinto takeover

Entree Gold Provides Update on Arbitration Between Rio Tinto and Ivanhoe Mines

admin — Tue, 13 Dec 2011 19:22:00 +0000

[Marketwire] – VANCOUVER, BRITISH COLUMBIA– – Entree Gold Inc. is providing an update on the arbitration hearings between the Company’s two largest shareholders, Rio Tinto and Ivanhoe Mines. Rio Tinto first referred …
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Entree Gold Provides Update on Arbitration Between Rio Tinto and Ivanhoe Mines

Rio Tinto wins battle against Ivanhoe’s ‘poison pill’ rights plan

admin — Tue, 13 Dec 2011 08:02:09 +0000

An arbitrator has ruled that a “poison pill” rights plan erected by Ivanhoe to try and stop a Rio Tinto takeover, does not apply to the latter, leaving Ivanhoe vulnerable to a takeover next year.
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Rio Tinto wins battle against Ivanhoe’s ‘poison pill’ rights plan

Rio Tinto CEO Keen To Increase Exposure To Africa

admin — Thu, 27 Oct 2011 14:11:00 +0000

Rio Tinto Ltd. (RIO) Chief Executive Tom Albanese said the company is keen to increase its exposure to mining in Africa, flagging more potential investment in the continent. “I’ve long had the belief that Rio Tinto is under-invested in Africa,” Albanese…
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Rio Tinto CEO Keen To Increase Exposure To Africa

Tough talk about Oyu Tolgoi does nothing to staunch Ivanhoe bleeding

admin — Mon, 03 Oct 2011 20:50:00 +0000

A statement put out by Ivanhoe Mines and partner Rio Tinto on Monday saying it has formally informed the Mongolian government it won’t renegotiate the terms of the Oyu Tolgoi investment did not have the desired effect and the share was beaten down 6.6% on Monday.

The counter’s losses began after rumours – now confirmed – surfaced that the Mongolian government is rethinking a 2009 deal that gave Ivanhoe Mines and Rio Tinto a 66% stake in Oyu Tolgoi and that it now wants half of the $6 billion gold and copper project.

Ivanhoe Mines said it has also sent letters that cautioned that the Mongolian government’s actions could “seriously undermine the confidence that international investors have in Mongolia’s future as a safe and stable country in which to invest.” According to the statement Ivanhoe is “encouraged” by remarks made by Mongolia’s President Elbegdorj over the weekend when he said that “Mongolians should keep their word.”

By the close on Monday Ivanhoe Mines (TSE:IVN) was trading at $13.49 after plunging 6.6%, bringing its market value to $9.6 billion and taking the share’s losses over the last three month to 44.6%. In August Vancouver-based Friedland told a group of investors that Ivanhoe is worth at least $30 billion.

Ivanhoe is closely tied to Mongolia. Its 57%-owned SouthGobi Resources (TSE:SGQ) is already producing coal at an annual rate of 5.3mm metric tonnes and is often touted as a takeover target. It lost 6.6% on the TSX where it is worth $1.1 billion – Southgobi has shed a third of its value over the last month. American Depositary Receipts of Rio Tinto, the world’s number two miner, which owns just under half of Ivanhoe shed 4% on a day where the broader markets fell 2.8%.

Click here for Monday’s joint statement from Ivanhoe Mines and Rio Tinto.
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Tough talk about Oyu Tolgoi does nothing to staunch Ivanhoe bleeding

Rio Tinto raises stake in Ivanhoe Mines to 48.5 pct

admin — Wed, 24 Aug 2011 19:29:00 +0000

Mining company Rio Tinto PLC (RIO) Wednesday raised its ownership stake in Canada-based Ivanhoe Mines Ltd (IVN.T) by 2% to 48.5% as it sought to cement its commitment to the massive Mongolian Oyu Tolgoi copper-gold project.

Rio Tinto paid C$18.98 a share and exercised its subscription right to the tune of C$529.5 million in order to increase its take in Ivanhoe Mines, the majority owner of the Oyu Tolgoi project.
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Rio Tinto raises stake in Ivanhoe Mines to 48.5 pct

Rio Tinto hands over metal used to make Olympic medals to organisers

admin — Fri, 08 Jul 2011 15:36:00 +0000

A general view of the exterior of the London 2012 Olympic Stadium (Pic: ) THE first metal that will be used to make London Olympics medals was handed over to organisers yesterday (FRI). Mining company Rio Tinto, who will supply the metal, gave a lump of
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Rio Tinto hands over metal used to make Olympic medals to organisers

Rio Tinto appoints former Barclays CEO Varley to board

admin — Thu, 07 Jul 2011 18:09:00 +0000

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. Rio Tinto doesn’t have a system for directly
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Rio Tinto appoints former Barclays CEO Varley to board

Rio Tinto happy with Australian project budgets

admin — Tue, 28 Jun 2011 07:48:00 +0000

Rio Tinto is comfortable with the company’s multibillion-dollar project budgets in Australia, where labour, input and services costs were all increasing, Chief Executive Tom Albanese said on Tuesday.

“I’m comfortable that our budgets in Australia are being managed appropriately,” Albanese said at a business lunch.
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Rio Tinto happy with Australian project budgets