Ivanhoe Falls After Mongolia Seeks Bigger Stake in Copper Mine
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Ivanhoe Mines Ltd. fell in Toronto trading after Mongolia said it wanted to boost its stake in one of the world’s largest undeveloped copper-gold mines two years after agreeing to cap its stake until 2039.
Ivanhoe, developing the Oyu Tolgoi deposit with Rio Tinto Group, fell C$1.51, or 9.1 percent, to C$15 yesterday at 4 p.m. in Toronto Stock Exchange trading, after earlier dropping as much as 21 percent. Rio declined 20.5 pence, or 0.7 percent, to 2,964.5 pence in London.