Rio Tinto and Ivanhoe Mines Ltd. have signed an agreement under which Rio Tinto has agreed to support and provide certain elements of a comprehensive funding package for Ivanhoe that will underpin the development of the Oyu Tolgoi copper/gold mine in Mongolia, Rio Tinto said this morning. The parties also have agreed that Rio Tinto,...
By acquiring shares from third parties, Rio Tinto has become majority owner of Ivanhoe Mines Ltd., which in turn is majority owner of the Oyu Tolgoi copper/gold project in Mongolia. Rio Tinto’s stake in the Canadian firm is now 51%, it reported this morning. “Rio Tinto’s move to a majority stake in Ivanhoe further...
Early last week, Ivanhoe Mines Ltd. issued a press release stating it believed the government of Mongolia was happy with the deal it got on the giant Oyu Tolgoi copper/gold mine, despite some buzz that it would be asking more from its Canadian partner and thus from Rio Tinto as well. On Monday, the...
Ivanhoe Mines Ltd. said this morning that expects the Mongolian government to continue to support the existing deal of the nation’s ownership interest in the giant Oyu Tolgoi copper/gold mine project rather than accelerating its buy-in. The company also reported that the schedule for supply of interim electric power for the mine in on...
With ever-strengthening prices for precious metals, early mining from Oyu Tolgoi’s gold-rich open-pit deposits mean that these metals will generate up to half of the early-year revenues for this Mongolian behemoth. Ivanhoe Mines Ltd.‘s CEO and founder Robert Friedland said this morning that the recent start of pre-stripping of the open-pit that will mine...
