Source: Vancouverite                           Date: 16 December, 2010

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

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