Über mining promoter Robert Friedland is circling the financial wagons, preparing to stave off a future takeover of Ivanhoe Mines and its Oyu Tolgoi project by mega-miner Rio Tinto.
Robert Friedland clearly drew a line in the sand to prevent Rio Tinto from slowly taking over Ivanhoe Mines as the master strategist/mining entrepreneur resumed the CEO’s position, and Ivanhoe declared it is undertaking a $US800 million to US$1 billion equity rights offering, despite Rio Tinto’s opposition.
See http://www.mineweb.com/mineweb/view/mineweb/en/page67?oid=113199&sn=Detail&pid=92730.