Rio Tinto acquires additional stake in Ivanhoe Mines

27 September 2011 (Last Updated September 27th, 2011 18:30)

Rio Tinto, through its subsidiary Rio Tinto International, has acquired additional common shares in Ivanhoe Mines for C$73m (US$70.7m).

Rio Tinto, through its subsidiary Rio Tinto International, has acquired additional common shares in Ivanhoe Mines for C$73m (US$70.7m).

Rio Tinto has acquired 3,700,000 common shares of Ivanhoe Mines at a price of C$19.75 (US$19.14) per share.

The acquisition of Ivanhoe shares was made in compliance with existing contractual arrangements between Rio Tinto and Ivanhoe Mines that permits share purchases in certain circumstances and subject to certain limits.

With this acquisition, Rio Tinto has increased its ownership in Ivanhoe Mines by 0.5% with a total of 361 million common shares, which is equal to 49%.