120 Collins Street
Melbourne 3000
Australia
T +61 (0) 3 9283 3333
F +61 (0) 3 9283 3707
Media release
Rio Tinto moves to a majority stake in Ivanhoe Mines 24 January 2012
Rio Tinto has taken a majority stake in Ivanhoe Mines Ltd,
having purchased shares that take its interest to 51 per
cent.
Rio Tinto chief executive Copper Andrew Harding, said, "Rio
Tinto's move to a majority stake in Ivanhoe further
demonstrates our commitment to the safe and successful
development of the Oyu Tolgoi mine for the benefit of all
stakeholders. We are approaching a very important phase in
the development of the Oyu Tolgoi mine, with 70 per cent of
the construction now complete. The lead-up to first ore in
the second half of
2012 will mark an important milestone in the path towards
commercial production of copper concentrate, slated for the
first half of 2013."
Rio Tinto purchased an additional 15.1 million common shares
of Ivanhoe, representing 2 per cent of Ivanhoe's outstanding
common shares, from two sellers in a privately negotiated
share purchase transaction. The shares were purchased for an
aggregate of C$302 million at a price per share of C$20.00.
After the completion of the share purchase, Rio Tinto will
own 377,397,658 common shares of Ivanhoe representing 51 per
cent of Ivanhoe's outstanding common shares.
Rio Tinto has anti-dilution rights that permit it to acquire
additional Ivanhoe securities so as to maintain its
proportional equity interest in Ivanhoe. Rio Tinto also has
the right to acquire additional Ivanhoe securities under its
equity financing right of first offer.
Rio Tinto has no current intention to purchase additional
securities of Ivanhoe. However, Rio Tinto reserves its right
to seek opportunities to purchase additional securities of
Ivanhoe depending upon its assessment of Ivanhoe's
business, prospects and financial condition, the market for
Ivanhoe's securities, general economic and tax
conditions, and other factors. Rio Tinto also reserves its
right to take any permitted action as the majority
shareholder of Ivanhoe.
Rio Tinto is a leading international mining group
headquartered in the UK, combining Rio Tinto plc, a London
and New York Stock Exchange listed company, and Rio Tinto
Limited, which is listed on the Australian Securities
Exchange.
Rio Tinto's business is finding, mining, and processing
mineral resources. Major products are aluminium, copper,
diamonds, thermal and metallurgical coal, uranium, gold,
industrial minerals (borax, titanium dioxide and salt) and
iron ore. Activities span the world and are strongly
represented in Australia and North America with significant
businesses in Asia, Europe, Africa and South America.
Cont…/
Registered in Australia Rio Tinto Limited 120 Collins Street Melbourne 3000 Australia ABN 96 004 458 404
Continues Page 2 of 2
For further information, or to obtain a copy of Rio Tinto's early warning report once it is filed with the Canadian securities regulators, please contact:
Media Relations, Australia / Asia David Luff Office: +61 (0) 3 9283 3620 Mobile: +61 (0) 419 850 205 Karen Halbert Office: +61 (0) 3 9283 3627 Mobile: +61 (0) 412 119 389 Bruce Tobin Office: +61 (0) 3 9283 3612 Mobile: +61 (0) 419 103 454 | Investor Relations, Australia Dave Skinner Office: +61 (0) 3 9283 3628 Mobile: +61 (0) 408 335 309 Christopher Maitland Office: +61 (0) 3 9283 3063 Mobile: +61 (0) 459 800 131 |
Media Relations, EMEA / Americas Illtud Harri Office: +44 (0) 20 7781 1152 Mobile: +44 (0)7920 503 600 Tony Shaffer Office: +44 (0) 20 7781 1138 Mobile: +44 (0) 7920 041 003 Christina Mills Office: +44 (0) 20 7781 1154 Mobile: +44 (0) 7825 275 605 | Investor Relations, London Mark Shannon Office: +44 (0) 20 7781 1178 Mobile: +44 (0) 7917 576597 David Ovington Office: +44 (0) 20 7781 2051 Mobile: +44 (0) 7920 010 978 |
Media Relations, Canada Bryan Tucker Office: +1 (0) 514 848 8151 Mobile: +1 (0) 514 825 8319 | Investor Relations, North America Jason Combes Office: +1 (0) 801 204 2919 Mobile: +1 (0) 801 558 2645 |
Website: | www.riotinto.com |
Email: | media.enquiries@riotinto.com enquiries.mediaaustralia@riotinto.com |
Twitter: | Follow @riotinto on Twitter |
High resolution photographs and media pack available at: www.riotinto.com/media
distribué par | Ce noodl a été diffusé par Rio Tinto plc et initialement mise en ligne sur le site http://www.riotinto.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-24 22:53:33 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
Rio Tinto moves to a majority stake in Ivanhoe Mines |