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"Ivanhoe Mines needs to sell shares in Mongolia" |
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Saturday, 15 April 2006 |
At the regular Cabinet meeting held on March 22, 2006 the Ministries of
Finance, and of Trade and Industry were ordered to carry out activities
to sell ordinary shares of the Canadian Ivanhoe Mines company (IVN), which is
exploiting the Oyu Tolgoi minerals deposit in Omnogobi Aimag, through
the Mongolian Stock Exchange.
Mr. R.Sodkhuu,
Executive Director of the Mongolian Stock Exchange, has sent a letter in this respect
to the Ivanhoe Mines company president Robert M. Friedland. The letter
reads The Ivanhoe Mines company has been proposed to jointly conduct
all necessary surveys and to arrange all relevant activities with the
Mongolian Government in order to empower the Mongolian citizens with
the right to become the investors to the giant minerals and copper
plant to be erected in the Oyu Tolgoi deposit by means of distributing
among them ordinary shares and to further allow them to have dividends
from the plant s future profits. It is pleasant to express my
confidence that you will thoroughly study the proposal for the sake of
the future cooperation development.
mongolia.neweurasia.net has a transcript of part of the letter:
The Ivanhoe Mines company has been proposed to jointly conduct all
necessary surveys and to arrange all relevant activities with the
Mongolian Government in order to empower the Mongolian citizens with
the right to become the investors to the giant minerals and copper
plant to be erected in the Oyu Tolgoi deposit by means of distributing
among them ordinary shares and to further allow them to have dividends
from the plant’s future profits. It is pleasant to express my
confidence that you will thoroughly study the proposal for the sake of
the future cooperation development.
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