Rio Tinto To Increase Its Stake In Ivanhoe Mines To 29.6%
June 30, 2010 at 02:47 AM EDT
Miner Rio Tinto (RTP) said Wednesday that it will exercise all of its series A warrants which will increase its ownership of Ivanhoe Mines (IVN) shares by 7.3% to 29.6%. The warrants entitle Rio Tinto to acquire 46.03 million shares of Ivanhoe Mines at a price of $8.54 per share for approximately $393 million. “Rio Tinto’s [...]