Rio Tinto execs take up CEO, CFO seats at Ivanhoe

Two weeks after having named Kay Priestly as acting CEO, Ivanhoe Mines, building the $6.2-billion Oyu Tolgoi copper/gold project in Mongolia, late on Tuesday cemented the former Rio Tinto executive’s role as a permanent one. Toronto- and New...

Ivanhoe reassures minorities after Rio says to seek changes

Ivanhoe Mines, now majority owned by Rio Tinto, said on Friday an agreement with the diversified major stipulated that a majority of its 14-member board had to be independent directors. Rio Tinto bought an additional 2% of Ivanhoe’s stock this...

Ivanhoe drops poison pill, approves $1.8bn bridging finance

Ivanhoe Mines, the owner of the giant Oyu Tolgoi copper-gold project in Mongolia, on Wednesday said its board decided to scrap a shareholder rights plan, clearing the way for 49% shareholder Rio Tinto to gain control of the company. In December,...

Mongolia gives Prophecy green light to build new coal power station

Prophecy Coal, the junior that graduated to the TSX main board last month, received the green light from the Mongolian government to build its 600 MW Chandgana coal-fired power plant in the east of the country, the company said on Monday. The...

Centerra eyes 1Moz/y gold output by 2012

Centerra Gold, which operates the biggest gold mine in Central Asia, plans to boost production by 50% by around 2014 to just under one-million ounces yearly, CEO Steve Lang said in an interview on Friday. The TSX-listed company forecast output of...

Mongolia reaffirms Oyu Tolgoi investment agreement

The investment agreement for the giant Oyu Tolgoi copper-gold project in Mongolia stands, the government announced on Thursday, after its requests to renegotiate it with Rio Tinto and Ivanhoe mines were declined. In a joint statement, the three...

Rio and Ivanhoe stand firm on Oyu Tolgoi ownership

The owners of the giant Oyu Tolgoi copper-gold project in Mongolia, Rio Tinto and Ivanhoe Mines, on Monday took a joint stand against the government of that country, refusing to budge on their investment agreement. The companies said they had...

Ivanhoe urges Mongolia to stick to Oyu Tolgoi accord

Ivanhoe Mines on Monday on Monday sought to assert its rights at the Oyu Tolgoi project in Mongolia, in the midst of reports the government wanted to renegotiate a 2009 contract to lift the State’s ownership of the mine sooner than previously...

Ivanhoe starts prestripping at huge Mongolian mine

Ivanhoe Mines, run by billionaire Robert Friedland, started pre-stripping this month at its giant Oyu Tolgoi’s phase-one open pit mine, the company said on Monday. It also said it made a $0.6-million profit in the June quarter, compared with a...

Ivanhoe, Rio headed back to arbitration; spending $7m a day at OT

Rio Tinto and Ivanhoe Mines, which are building the giant Oyu Tolgoi copper/gold/silver mine in Mongolia, will likely go back to arbitration later this month, after a six-month suspension on the proceedings expires, Ivanhoe said on Thursday....

Ivanhoe gets $388m injection as Rio boosts stake

Diversified miner Rio Tinto has doubled its holding in Vancouver-based Ivanhoe Mines for $388-million, the firms announced on Wednesday. Rio now owns 19,7% of Ivanhoe, up from the previous 9,9%. The investment was completed as part of a 2006...

Ivanhoe confident on Oyu Tolgoi funding

The development of the giant Oyu Tolgoi mine, in Mongolia's South Gobi region, will not be delayed “by a single day” because of a need to secure capital, Ivanhoe Mines chairperson Robert Friedland asserted on Thursday. “Financing is the...