09:44 AM EST - Ivanhoe Mines Ltd. : said that its executives and its strategic partner, Rio Tinto, are working with Mongolian Government representatives to finalize an Investment Agreement for the Oyu Tolgoi copper-gold project as quickly as possible. In expectation of the signing of a final investment agreement, the companies have mutually agreed to fine-tune two provisions of Rio Tinto's phased investment of about $2.4 billion U.S. in Ivanhoe Mines. A proposed minor adjustment to the inter-company investment package would grant Rio Tinto a short-term, month-to-month extension of the approaching October 27 deadline for completing Tranche 2 of Rio Tinto's approved schedule of a series of investments in Ivanhoe Mines. A second adjustment would permit Ivanhoe Mines to sell an aggregate interest totalling up to 9.9% to one or two strategic investors, without affecting Rio Tinto's anti-dilution rights to acquire an equity interest of 43.1% in Ivanhoe Mines, which may be increased to a maximum of 46.65% by acquiring additional shares on the open market. Ivanhoe Mines Ltd.
shares T.IVN are trading up $0.09 at $13.13.
