Rio Tinto last week bought 10 million
common shares of Ivanhoe Mines Ltd. from the company’s director, Robert M.
Friedland, as the two companies start collaborating in bringing into production
the Oyutolgoi project, with enough reserves of copper and gold to keep the mine
in business for 60 years.

According to an announcement made by Friedland, who is
CEO and executive chairman of Ivanhoe, Rio paid USD25.35 for every common
share sold by Friedland who owns 18.2 percent of Ivanhoe.