Rio Tinto Limited (ASX:RIO, LON:RIO, NYSE:RIO) is looking to gain more seats on the Ivanhoe (TSX:IVN) board and may replace members of its senior management.
The miner boosted its stake in Ivanhoe by 51 per cent last week, and has submitted a filing to the US Securities and Exchange Commission outlining the possibility of changes. But Ivanhoe’s chairman says an agreement made in 2010 guarantees more than 50 per cent of the board must remain independent.
Separately Rio has confirmed a worker has died on a railway operation in Quebec. Operations have been suspended and authorities are conducting enquiries into the cause of the worker’s death.
Rio Tinto reported a net profit of $7.5 billion in the first half of the 2011 calendar year.
