takeover, page-31

Everyone is misunderstanding Rio's intentions when they took control of Ivanhoe Mines from the original founder.

Rio's intention was Oyu Tolgoi all the time, as it was Rio's answer to BHP's Olympic Dam.

To develop Oyu Tolgoi, costs have increased for Rio on many unexpected occasions, which from day 1 of Ivanhoe Mines, they wanted to sell off IVA and sell of SouthGobi Resources and Altynalmas Gold.

They scored a great deal with Chalco when Chalco offered a good price for SouthGobi, but the deal didn't go through because the Mongolian Govt is quite anti-Chinese and blocked the deal.

This put IVA and Altynalmas Gold on the frontline as assets to be sold and focus the cash on Oyu Tolgoi.

Reports recently is that Turquoise Hill Resources has sold
Altynalmas Gold. The next logical step is finalized the sale of IVA (which was initiated by a strategic review process 12 months when Rio took control of Ivanhoe Mines.

http://www.asiaminer.com/magazine/current-news/4906-kazakhstan-turquoise-hill-sells-stake-in-altynalmas.html

Its just that I always predicted the two likely buyers were either OZL or SOL. I didn't see a company like Shanxi coming.

So I don't like why everyone is making a big fuss about Turquoise Hill was acquire IVA, which was never gonna be on Rio's agenda.