The Globe and Mail / Reuters: Ivanhoe sees Mongolian mine running later this year

The Oyu Tolgoi copper-gold project in Mongolia is on track to begin initial production in the third quarter, Canada’s Ivanhoe Mines Ltd., co-developer of the project with global mining giant Rio Tinto PLC, said on Monday. The Vancouver, B.C.-based miner, which is majority owned by Rio Tinto, said it expects the mine to achieve full commercial production in the first half of next year. “The first production line is scheduled to be completed during the third quarter followed by completion of the second production line in the fourth quarter,” Ivanhoe chief executive officer Robert Friedland said in a statement. Oyu Tolgoi, which means Turquoise Hill, is about 80 kilometres north of Mongolia’s border with copper-hungry China and is considered one of the world’s largest copper and gold deposits. To read the full article, click hereIvanhoe sees Mongolian mine running later this year

This entry was posted in Mongolia News. Bookmark the permalink.

Comments are closed.