Mining giant Rio Tinto has announced that an independent arbitrator has favored Rio Tinto regarding the shareholders right plan preventing Rio Tinto from increasing its shares in Vancouver,
Canada-based diversified global miner Ivanhoe Mines.
Accordingly, Rio Tinto has the right to purchase additional shares in Ivanhoe beyond its current holding of 49 percent, after a standstill agreement expires on January 18, 2012, without being diluted by Ivanhoe Mines' shareholders right plan.
Rio Tinto stated that it may seek to increase its shareholding in Ivanhoe to a majority position but it has no intention of making a full takeover bid for Ivanhoe's shares for the time being.