Reuters: Friedland exits as Ivanhoe, Rio sign finance deal

Ivanhoe Mines Ltd said Wednesday its founder and Chief Executive Robert Friedland has resigned as part of a financing deal with its majority shareholder, Rio Tinto, marking a new era for the Canadian miner that is developing the $13.2 billion Oyu Tolgoi copper-gold project in Mongolia. Friedland’s resignation, along with the resignations of six other directors and four senior management members, comes a few months after mining giant Rio Tinto bought a controlling stake in the Toronto-listed mining company. The management changes also signal an end to the often tumultuous relationship between Ivanhoe and top shareholder Rio, which has helped finance a large portion of the Oyu Tolgoi development and brought the project to the verge of production. To read the full article, click hereFriedland exits as Ivanhoe, Rio sign finance deal

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