Ivanhoe's Oyu Tolgoi Mine in Mongolia on Schedule

The construction of Ivanhoe's Oyu Tolgoi Copper Gold complex in Mongolia is proceeding as per schedule. The President and Chief Executive Officer of Ivanhoe Mines Ltd. John Macken said that the successful ramp up to full scale construction was a remarkable achievement by the project's workforce and contractors.

Mr Macken also said that the steady progress being logged by the site at Oyu Tolgoi meant that the company was on track to complete the construction schedule by the end of the year. This would mean that the first ore would be processed during the fourth quarter of 2012. The company had declared that they would begin full commercial production at Oyu Tolgoi by 2013.

The Executive Chairman of Ivanhoe Mines Ltd, Robert Friedland is in charge of developing the Oyu Tolgoi project along with Anglo-Australian miner Rio Tinto and the government of Mongolia, both of whom are partners in the project. The $5 billion project is going to tap one of the largest copper gold deposits in the world today.