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Wednesday, Feb 22
2012, 11:19 AM
The battle for Mongolia: The huge untapped reserve of copper and gold that lies beneath the...
The battle for Mongolia: The huge untapped reserve of copper and gold that lies beneath the Mongolian desert sits in the middle of a boardroom tussle at Ivanhoe Mines (IVN +2.1%) and Rio Tinto (RIO -0.7%). After gaining a controlling interest in Ivanhoe, Rio is weighing spinning off or selling Ivanhoe's other assets, while holding onto the Oyu Tolgoi mother lode. But standing in the way is Ivanhoe CEO Robert Friedland - with his 13.7% stake - who could be a big wildcard in what eventually happens in Mongolia.