Rio Tinto said on Monday it will increase its stake in Canadian junior company Ivanhoe Mines by 2.7% to 22.4%. The move will cost US$ 232.8 million to the British Australian giant, buying 15 million Ivanhoe shares at a subscription price of C$ 16.31 per share. The good performance at the Oyu Tolgoi copper-gold complex in Mongolia, where the companies have a joint venture, helped Rio Tinto to decide increasing its stake at Ivanhoe. The money at this transaction will be used to finance equipment to the project.