rio getting some competition on parent company

Temasek buys 5.5% stake in Ivanhoe Mines

By: Reuters
11th June 2012

SINGAPORE – Singapore State investor Temasek Holdings has taken a 5.5% stake in Canada's Ivanhoe Mines valued at $426-million, according to a regulatory filing.

Temasek bought 40.86-million shares of the Vancouver-based firm, the Singapore investor said in a filing to the US Securities and Exchange Commission on June 8.

Ivanhoe is an affiliate of mining giant Rio Tinto .

Temasek, which has about 36% of its assets in financials, has been slowly increasing its investments in resources firms. In April it bought shares of PetroChina's unit Kunlun Energy.

http://www.miningweekly.com/article/temasek-buys-55-stake-in-ivanhoe-mines-2012-06-11