Mining giant Rio Tinto Plc (RTNTF.PK, RIO, RIO.L, RTPPF.PK) announced that it has raised its stake in Canada's Ivanhoe Mines Ltd. (IVN.TO) to 51% from 49%.
Rio Tinto purchased an additional 15.1 million common shares of Ivanhoe from two sellers in a privately negotiated deal for an aggregate of C$302 million at a price per share of C$20.00.
Rio Tinto said that it has no current intention to purchase additional securities of Ivanhoe.
However, Rio Tinto reserves its right to seek opportunities to purchase additional securities" depending on a range of factors including its view of Ivanhoe's business, the market for the stock as well as general economic and tax conditions, the company stated.
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