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Gold/Mining/Energy : Ivanhoe Mines (IVN.T > formerly Indochina Gold)

IVN.TO 14.43

-0.9%

Oct 30 3:59 PM EDT

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From: Julius Wong	10/4/2009 12:46:42 PM
	of 51

Mongolia To Ink Key Mine Deal By ELISABETH BEHRMANN Mongolia's government is going to sign a key investment agreement for the $4 billion Oyu Tolgoi copper-gold mine on Tuesday, Oct. 6, a spokesman for Mongolia's president said Saturday. "On Tuesday will be the signing ceremony. This day is the best day to do a big job," the spokesman told Dow Jones Newswires, referring to the Buddhist calendar. Mongolia is rich in a range of resources, including coal, gold, iron ore, zinc and uranium, and the agreement for Oyu Tolgoi will act as a blueprint for billions of dollars of investment into the impoverished country that shares a border with China. Oyu Tolgoi's owner, Ivanhoe Mines Ltd. and joint-venture partner Rio Tinto PLC have been waiting for years to sign an investment framework, spelling out taxation and government involvement for the mine, set to produce 450,000 metric tons of copper annually with a mine life of 45 years. Rio currently holds a 9.9% stake in Canada-based Ivanhoe, with an option to raise that to just over 45%. online.wsj.com

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