Ivanhoe Australia Limited
(ASX:IVA) has confirmed Rio Tinto’s Turquoise Hill Resources is reviewing options for its 57 per cent stake in the gold and copper producer.
Ivanhoe says it’s aware that Turquoise Hill Resources has initiated a strategic review of its business which includes a review of its options in relation to its shareholding in Ivanhoe Australia.
Ivanhoe Australia's most recent market value was $148.7 million, a big fall from its $1.5 billion price tag in 2011, before commodities prices slumped.
According to media reports, Citigroup was shopping around for a buyer of Turquoise Hill's sale of its stake in SouthGobi, but has put the sale on hold.
Ivanhoe Australia reported a net loss of $110 million for its 2012 financial year.
