While it may only be a formality, Rio Tinto’s $US302 million purchase of another two per cent of Ivanhoe Mines finally cements its control of the group and its prize asset, the giant Oyu Tolgoi copper-gold prospect in Mongolia. By moving to 51 per cent of Ivanhoe, and with anti-dilution rights to protect its position, Rio has finally buried the already-remote prospect that Ivanhoe’s founder, Robert Friedland, might devise yet another plan for preventing Rio from securing absolute control.
See http://www.businessspectator.com.au/bs.nsf/Article/Rio-Tinto-Oyu-Tolgoi-Ivanhoe-Friendland-control-sh-pd20120125-QU2BR?opendocument&src=rss.