Rio invests $US388M in Oyu Tolgoi, doubles Ivanhoe stake

RIO Tinto, as anticipated, will pump an extra $US388 million ($A431 million) into the development of the massive Oyu Tolgoi copper-gold project in Mongolia in a move that will double the miner’s stake in its joint venture partner Ivanhoe Mines.

Rio invests $US388M in Oyu Tolgoi, doubles Ivanhoe stake Rio invests $US388M in Oyu Tolgoi, doubles Ivanhoe stake Rio invests $US388M in Oyu Tolgoi, doubles Ivanhoe stake Rio invests $US388M in Oyu Tolgoi, doubles Ivanhoe stake Rio invests $US388M in Oyu Tolgoi, doubles Ivanhoe stake

Under the second tranche of its investment, Rio will increase its holding in the Canadian company from 9.9% to 19.7% for 46.3 million shares in Ivanhoe at a subscription price of $8.

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