Rio Tinto says it will increase its stake in Ivanhoe Mines by exercising its remaining warrants in the Canadian company for $476 million in a deal related to the development of the Oyu Tolgoi copper and gold project in Mongolia.

Rio Tinto says it will increase its stake in Ivanhoe Mines by exercising its remaining warrants in the Canadian company for $476 million in a deal related to the development of the Oyu Tolgoi copper and gold project in Mongolia.