Brisbane Times: Mongolian prize finally in Rio Tinto’s grasp

Rio Tinto is expected to offload a clutch of Australian and Asian assets now under its control after it clinched majority ownership of Canadian explorer Ivanhoe Mines. Rio’s long-held desire to control the lucrative Oyu Tolgoi mine in Mongolia came to fruition early yesterday, when a private purchase of 15.1 million Ivanhoe shares lifted Rio’s stake in the Canadian company from 49 per cent to 51 per cent. Ivanhoe owns 66 per cent of Oyu Tolgoi, with the Mongolian government controlling the rest of what is considered one of the world’s most exciting copper and gold deposits, with a possible mine life of 100 years. To read the full article, click hereMongolian prize finally in Rio Tinto’s grasp

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