Title: Rio may push for Oyu Tolgoi stake, Ivanhoe says
Tags: Rio may push for Oyu Tolgoi stake, Ivanhoe says
Blog Entry: MELBOURNE - Global miner Rio Tinto may push for something new in ownership from the massive Oyu Tolgoi copper and gold mine in Mongolia, and that is two-thirds belonging to Canada's Ivanhoe Mines, the Canadian miner said within a US filing. Ivanhoe said the Anglo-Australian miner also offers replace some Ivanhoe senior managers and increase its representation about the board. Rio increased its stake while in the Canadian miner to 51% earlier this week. Rio may approach Ivanhoe "alone or jointly using a 3rd party , around the long-term structure in their existing investment, a primary ownership affinity for the Oyu Tolgoi project or some other changes towards the capitalization, ownership structure or operations on the company," Ivanhoe said in a very filing towards Registration . The filing went more Rio Tinto's own announcement after it moved to a number position in Ivanhoe earlier this week seeking to step-up control of Oyu Tolgoi, that is caused by start producing within Eighteen months . the crusher machine for rocks Rio Tinto declined to touch upon Ivanhoe's filing. Rio flagged truly who's had held talks featuring a biggest shareholder, Chinalco, about possibly bringing in china state-owned company as a partner in Oyu Tolgoi, a move that might end up being approved by the Mongolian government. Vibratory Screen Mongolia owns 34 percent of the project, while Ivanhoe owns the remaining . Ivanhoe's shares have slumped 17% since Rio Tinto SBM won a battle against Ivanhoe's "poison pill" takeover defense, clearing just how for doing this to consider over Ivanhoe. After increasing its stake to 51%, the Anglo-Australian miner said hello doesn't have current intentions to buy more shares.
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