Posts tagged ‘Rio Tinto’

Ivanhoe Mines Financial Results and Review of Operations (Third Quarter of 2009)

By mergen, 15 November, 2009, 2 Comments
On November 13, 2009, the following article was released on CNN Money.   It contains highlights from Ivanhoe Mines’ financial tesults and review of operations.  The full PDF can be downloaded from the Ivanhoe Mines website.

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Ivanhoe Mines Ltd. (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) today announced its results for the quarter ended September 30, 2009. All figures are in US dollars, unless otherwise stated.

HIGHLIGHTS DURING THE QUARTER AND SUBSEQUENT WEEKS

- On October 6, Ivanhoe Mines and its strategic partner, Rio Tinto, joined with the Government of Mongolia in a state ceremony for the signing of an Investment Agreement for the Oyu Tolgoi copper-gold project. The Investment Agreement establishes a stable legal, fiscal and regulatory environment for the construction and operation of the Oyu Tolgoi mining complex.

- On October 27, Ivanhoe received $388 million from Rio Tinto, increasing Rio Tinto’s equity ownership in Ivanhoe Mines to 19.7%. The additional funds will be used to help build and commission the open-pit mine and to advance development of the underground block-cave mine at Ivanhoe’s Oyu Tolgoi copper-gold project in Mongolia.

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