Completes second tranche of I

RNS Number : 4775B

Rio Tinto PLC

28 October 2009

 

Rio Tinto completes second tranche of its investment in Ivanhoe Mines

28 October 2009

Rio Tinto confirmed today it has completed the second tranche of its private placement investment in Ivanhoe Mines Ltd, increasing its ownership by 9.8 per cent to 19.7 per cent of Ivanhoe's common shares. The second tranche consists of 46,304,473 common shares at a subscription price of US$8.38 per share for a total consideration of US$388,031,483.74.

If Rio Tinto were to exercise and convert all of its remaining warrants and securities of Ivanhoe, it would own approximately 257,931,578 common shares of Ivanhoe representing 43.1 per cent of Ivanhoe's common shares.

Rio Tinto has no present intention of acquiring other securities of Ivanhoe, except as regards its right to acquire additional securities so as to maintain its proportional equity interest in the future, or of disposing of any of the securities of Ivanhoe which it holds. Depending upon its evaluation of Ivanhoe's business, prospects and financial condition, the market for Ivanhoe's securities, general economic and tax conditions and other factors, Rio Tinto may acquire additional securities of Ivanhoe or sell some or all of the securities it holds. 

About Rio Tinto 

Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.

 

Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.

Cont…/

  For further information, please contact:

Media Relations, London  Nick Cobban Office: [phone] Mobile: [phone] Christina Mills Office:  [phone] Mobile: [phone]	Media Relations, Australia  Tony Shaffer Office:  [phone] Mobile: [phone]
Media Relations, Americas  Tony Shaffer Office:  [phone] Mobile: [phone]	Media Relations, Canada Stefano Bertolli Office:  [phone] Mobile: [phone]
Investor Relations, London Mark Shannon Office: [phone]  Mobile: [phone] David Ovington Office: [phone] Mobile: [phone] Investor Relations, North America Jason Combes Office: [phone] Mobile: [phone]	Investor Relations, Australia Dave Skinner Office: [phone] Mobile: [phone] Simon Ellinor Office: [phone] Mobile: [phone]

Email:  [e-mail]

Website:  www.riotinto.com

High resolution photographs and media pack available at: 
http://www.riotinto.com/media/press_kit.asp

 

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