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SYDNEY (Reuters) - Global miner Rio Tinto (RIO.AX) (RIO.L) will increase its stake in Canada"s Ivanhoe Mines by 2.7 percent to 22.4 percent at a cost of C$244.7 million ($232.8 million), the company said on Monday.
Rio will buy 15 million Ivanhoe shares at a subscription price of C$16.31 per share.
"The shares are being issued to Rio Tinto in satisfaction of an arrangement with Ivanhoe Mines in 2008 to finance equipment for the Oyu Tolgoi copper-gold complex in Mongolia"s South Gobi region," Rio said.
(Reporting by Balazs Koranyi)
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