Ivanhoe Mines Welcomes Initiative by Mongolia's Parliament to Finalize an Oyu Tolgoi Draft Investment Agreement
December 05 2008 - 10:01AM
Marketwired
John Macken, President and CEO of Ivanhoe Mines (TSX: IVN)(NYSE:
IVN)(NASDAQ: IVN), today welcomed the decision by Mongolia's
national Parliament, the State Great Khural, to establish a
deadline for completion of a draft Investment Agreement for
Ivanhoe's Oyu Tolgoi copper-gold project.
A total of 42 of 50 members of Parliament - 84% of those
present, representing both political parties in Mongolia's joint
government - voted December 4 to adopt a resolution that authorizes
the Mongolian Government, led by Prime Minister Sanjaa Bayar, to
negotiate a draft Investment Agreement for Oyu Tolgoi and present
it to Parliament before February 1, 2009.
The parliamentary resolution proposes that the government seek
assistance from internationally recognized experts in concluding
the agreement. Provisions of Mongolia's existing 2006 and 1997
minerals laws also will help to shape negotiations between the
government and the project's investors, Ivanhoe Mines and its
strategic partner, Rio Tinto.
Contacts: Ivanhoe Mines Ltd. Bill Trenaman Investor Relations
(604) 688-5755 Ivanhoe Mines Ltd. Bob Williamson Media (604)
688-5755 Website: www.ivanhoemines.com
Ivanhoe Mines (NYSE:IVN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ivanhoe Mines (NYSE:IVN)
Historical Stock Chart
From Jul 2023 to Jul 2024