Ivanhoe Mines (IVN) founder Robert Friedland resigns as CEO and as a director as part of a...

|By:, SA News Editor

Ivanhoe Mines (IVN) founder Robert Friedland resigns as CEO and as a director as part of a sweeping agreement with majority shareholder Rio Tinto (RIO) that ensures RIO's support for continued funding of IVN's Oyu Tolgoi mining project in Mongolia. The move ends a long battle between Friedland and RIO over control of the company. IVN +9.5%, RIO +1.1% premarket.