 In October 2010, Ivanhoe announced a new US$1 billion share offering in order to raise funds to develop this mine.Rio Tinto increased its ownership of Ivanhoe in December 2010, also assuming direct management of the design and construction of the project, however without fulfilling another aim, to achieve direct ownership of the mine.Disagreement between the Mongolian government and Rio Tinto came to a head in 2013, with the government urging Rio Tinto to settle the US$340 million tax issue and the cost overruns from the initially planned US$5.1 billion to US$7.1 billion during the initial stage of the project.