Rio Tinto Ltd
(ASX:RIO) has increased its stake in Canada’s Ivanhoe Mines to 34.9 per cent.
The global miner’s newly acquired interest represents a 5.3 per cent gain, after the automatic conversion of a matured credit facility.
Rio advises it still has the potential of gaining up to 44 per cent of Ivanhoe, or 267.2 million common shares, if it decides to exercise its share purchase warrants.
Currently Rio owns 184.74 million common shares of Ivanhoe Mines.
Canada’s Ivanhoe Mines has a 63 per cent interest in the Australian-listed Ivanhoe Australia Ltd (ASX:IVA).
Rio Tinto reported a $7.37 billion profit for the six months to the 30 June 2010.
