Rio cleared for Ivanhoe takeover

摘要

THE PATH FOR Rio Tinto to launch a takeover of Mongolian miner Ivanhoe Mines has been cleared, after the target company's attempt to limit the stake held by Rio was rejected by an independent arbitrator.Rio, which already holds a 49% share of Ivanhoe, will be free to seek a majority stake in the company from January 18, after a standstill agreement expires.Ivanhoe currently holds a 58% interest in Mongolian coal miner SouthGobi Resources and a 6 6 % interest in the Oyu Tolgoi copper, gold and silver mine project in southern Mongolia, along with various other stakes.