Rio Tinto Ups Ownership in Ivanhoe Mines to 22.4%

Ivanhoe Mines announced on March 1 that the company has entered into an agreement to issue 15 million common shares to Rio Tinto at C$16.31 per share, for net proceeds of C$244.7 million (US$232.4 million). Ivanhoe said it will use the proceeds to purchase from Rio Tinto key mining and milling equipment to be installed during the construction of the Oyu Tolgoi copper-gold mining complex in Mongolia.

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Alamos Finalizes Acquisition of Turkish Gold Assets

Alamos Gold Inc. reported that it has closed the acquisition of 100% of the Agi Dagi and Kirazli gold projects through the purchase of certain Turkish subsidiaries held by Fronteer Development Group. Agi Dagi and Kirazli are advanced-stage gold exploration projects located in the Biga Peninsula of northwestern Turkey.

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