81 billion lbs of copper & 46 million oz of gold, measured, indicated & inferred
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Ivanhoe Mines Ltd. Vancouver, BC, (IVN:TSX,NYSE,NASDAQ) is focused on the development of its discoveries in the Asia Pacific region.
- 66% interest in the world-scale Oyu Tolgoi copper and gold mine development project in southern Mongolia;
- its 57% interest in Mongolian coal miner SouthGobi Resources (SGQ:TSX,1878:HK);
- 62% interest in Ivanhoe Australia (IVA:ASX,TSX), which is developing the Merlin molybdenum-rhenium project in Australia;
- 50% interest in Altynalmas Gold Ltd., which is developing the Kyzyl Gold Project in Kazakhstan.
Oyu Tolgoi copper and gold mine development project in southern Mongolia
Oyu Tolgoiis the world's largest undeveloped copper-gold project and is located in the South Gobi region of Mongolia, approximately 550 km south of the capital, Ulaanbaatar, and 80 km north of the Mongolia-China border.
Commercial Production - 2013
Based on Ivanhoe Mines' discoveries at Oyu Tolgoi during the past nine years, independently verified estimates indicate that Oyu Tolgoi contains approximately 81 billion pounds of copper and 46 million ounces of gold in measured, indicated and inferred resources.
The comprehensive Oyu Tolgoi Investment Agreement took effect March 31, 2010, following confirmation by the Government of Mongolia that procedural and administrative conditions contained in the Investment Agreement had been satisfied within the allocated six-month period that has followed the agreement's official signing in October 2009. The comprehensive Investment Agreement now has taken full legal effect.
On October 6, 2009, Ivanhoe Mines and Rio Tinto signed a long-term, comprehensive Investment Agreement with the Government of Mongolia for the construction and operation of the Oyu Tolgoi copper-gold mining complex. The agreement creates a partnership between the Mongolian Government -- which acquired a 34% interest in the project -- and Ivanhoe Mines, which retained a controlling 66% interest in Oyu Tolgoi. Global miner Rio Tinto, which joined Ivanhoe Mines as a strategic partner three years ago, presently holds a 49% interest in Ivanhoe Mines.
The Oyu Tolgoi Project initially is being developed as an open-pit operation, with the first phase of mining planned to start at the near-surface Southern and Central Oyu deposits. A copper concentrator plant, related facilities and necessary infrastructure that will support an initial throughput of 100,000 tonnes of ore per day are being constructed to process ore scheduled to be mined from the Southern Oyu open pit. The ore will provide feed for the commissioning of the concentrator in advance of the planned start of commercial production of copper-gold-silver concentrate in the first half of 2013
Ivanhoe Australia Limited (TSX:IVA)(ASX:IVA), is building a substantial Australian-based resources company focused on the exploration and development of its portfolio of mineral projects to build a series of operating mines within a mining-friendly, politically-safe, operating environment.
Ivanhoe Australia has assembled a significant package of Mineral Resources in the highly mineralised Cloncurry district, near Mount Isa, Queensland.
The nature of the geological systems indicates potential metal production could be both multifaceted and long term. Exploration success so far has revealed a portfolio of copper, molybdenum, rhenium and gold Mineral Resources.
Ivanhoe Australia has a strong development pipeline, with four main projects and other potential development opportunities.
The key development project is Merlin, which is the highest-grade molybdenum and rhenium project in the world. Significant progress has been made to bring the Merlin Project closer to production with commencement of the Merlin decline in late 2010 and preparation of the prefeasibility study. Development studies are also underway on the Copper-Gold business, Mount Elliott and Mount Dore.
The strategic acquisition of the Osborne Copper and Gold Complex in September 2010 will be key to transforming Ivanhoe Australia into a significant base metal producer.
The Osborne Complex is located approximately 50 kilometres south of Mount Dore and is propose to be connected by a haul road to enable the efficient transportation of ore from Merlin and other resources located adjacent to the road.
Development of the Osborne and Kulthor underground resources has started with copper and gold production planned to commence in Q1 2012 with ore processed through the Osborne Complex.
Exploration prospectively on Ivanhoe's wholly owned and JV tenements in the Cloncurry region and on its JV tenements in the Tennant Creek Mineral Field, NT, Australia, remains very high.