Brisbane Times: Rio in talks to offload Ivanhoe stake as junior miner’s founder quits

Rio Tinto has held talks with Ivanhoe Australia over the best way to divest its recently inherited controlling stake in the junior miner, in the event that a sell-down takes place. While Rio has not made a formal decision to divest the 59 per cent stake it now controls, it has pledged to co-operate with Ivanhoe Australia in ”a very controlled, very calm” manner on any sell-down. A divestment has been expected since Rio took control of Ivanhoe Australia’s Canadian parent company – and 59 per cent majority stakeholder – Ivanhoe Mines in January. That speculation has gained momentum with the departure overnight of Ivanhoe founder Robert Friedland from the board of both Ivanhoe companies. Mr Friedland had long-running bad relations with Rio Tinto, which is believed to have no interest in any Ivanhoe asset beyond Mongolia’s Oyu Tolgoi mine. To read the full article, click hereRio in talks to offload Ivanhoe stake as junior miner’s founder quits

This entry was posted in Mongolia News. Bookmark the permalink.

Comments are closed.