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Rio holds onto Ivanhoe stake
Rio Tinto said yesterday it had paid about $935m for 133.6m shares of Ivanhoe Mines, or 51 per cent of the stock the Canadian miner put up in a shareholder rights offering. The purchase allows Anglo-Australian mining giant Rio to maintain its 51 per cent ownership stake in Ivanhoe, which is developing the massive Oyu Tolgoi copper-gold project in Mongolia.