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Rio Tinto Limited (ASX:RIO) has boosted its stake in Ivanhoe Mines Limited (IVN:TSX, NYSE:IVN, NASDAQ:IVAN) to 49 per cent through a privately negotiated share trade.
The global miner’s wholly-owned subsidiary, Rio Tinto International Holdings Limited, has acquired 0.5 per cent more of Ivanhoe or around 3.7 million shares.
Rio says under current agreements its maximum permitted shareholding in Ivanhoe Mines is 49 per cent.
Ivanhoe has a 54 per cent stake in ASX-listed Ivanhoe Australia Limited (ASX:IVA) and is also a joint venture partner with Rio in the Oyu Tolgoi copper and gold mine in Mongolia.
Rio Tinto posted a net profit of $7.5 billion in the first six months of 2011.
