This is potentially interesting news about IVN. I'm not sure what to make of it so far, as the Chinese company has never shown any interest in copper, nor has this story shown up anywhere else.
asia.news.yahoo.com
China's Chinalco,Ivanhoe in Mongolia deal-official
SHANGHAI, June 22 (Reuters) - Aluminum Corp. of China has agreed with Ivanhoe Mines Ltd. to help explore and develop a copper deposit in Mongolia, an official from the Chinese company said on Thursday.
"Aluminum Corp of China and Ivanhoe signed a secret agreement, have obtained the development planning report and have set up a special group for the development project," said Dai Fangjun, director of mining resources for Aluminum Corp. of China Ltd. , the company's Hong Kong listed arm, in a speech in Shanghai on Thursday.
The agreement, for the Oyu Tolgoi copper project, was signed last year, he told Reuters on the sidelines of the Northeast Asia Mining conference, organised by China Decision Makers Consultancy.
He did not say to what extent the agreement was binding or what size stake the Chinese firm might take.
Ivanhoe Mines, which owns the rights to Oyu Tolgoi, had in 2004 signed a letter of intent with China's Jiangxi Copper Co. Ltd. over the possibility of taking a stake in the project. |
