Ivanhoe promotes Mining in Mongolia

Mongolia is the next big thing in minerals exploration, if upbeat
comments by participants at an industry conference are anything to go
by.

"Mongolia is the best-kept secret in emerging markets in Asia,"
billionaire mining entrepreneur Robert Friedland said in a speech at
the Asia Mining Congress.

Friedland, who is also chairman of Canadian miner Ivanhoe Mines
Ltd. (IVN), said his company is proceeding with its Mongolian project.

Last week, the Mongolian government accepted some
investment-related proposals made by the company which would help
complete a stability agreement for the development of Ivanhoe's Oyu
Tolgoi copper-gold deposit in the South Gobi region.

A stability agreement covers such issues as taxation and legislation.

The company, through its wholly owned subsidiary Ivanhoe Mines
Mongolia Inc., is prepared to make capital investments of around
US$1.15 billion in the first phase of mining, said Friedland.

Oyu Tolgoi, which means Turquoise Hill, is expected to have an
average annual production in excess of one billion pounds of copper and
330,000 ounces of gold for at least 35 years.

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