Rio Tinto wins Ivanhoe case

An independent arbitrator has cleared the way for mining group Rio Tinto to take over Ivanhoe Mines, saying the $16bn Canadian group's poison pill defence was not valid. Rio Tinto, which owns 49 per cent of Ivanhoe, said it reserved the right to increase its holding to a majority position from 19 January, when an agreement limiting its stake expires. But it added it currently had “no intention of making a full takeover bid”.