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Ivanhoe Mines Ltd. Message Board

  • meryls777 meryls777 Sep 18, 2009 1:58 PM Flag

    When will the Agreement be inked

    This delay is killing me. Will the sheep hearders sign the deal or not?

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    • Mongolian pols are corrupt...not dumb tho. Polls show 80% of the people favor the mine. Huge amount of jobs and perifry biz...will pass our they will be voted out...cheers mw

    • They also have friendly mining laws and it does not take over 6 years to sign an IA and start mining

    • And you'll have no mining company to get the shit out of the ground. Thats gonna suck.

    • I advise your country sign IA with western alliance country, IVN so when the fat pig China turns around to eat your little ass up for it resources someone other than your greedy, corrupt politicians, not unlike our own, will have a vested interest in keeping them at bay.

    • quote sept-17-2009:

      "He would not specify a date beyond saying that the signing would be this month."

    • I heard that Afghanistan is full of copper. But no investor will think about going over there.
      Same thing might happen if OT is blown up.

    • No offense again? You're soo sweet. Perhaps I should show the same gratitude for you in offering me a job. Wait, maybe that's not necessary, there's a good chance you probably already do.

    • Note the actual wording:

      "last-minute issues"
      "We are in the process of negotiations"
      "We will try to work it out by the end of this month."
      ***No more guarantee for end of this month - they TRY"

      This certainly is shaking confidence again.
      I give a 90% chance that it will be signed end of this month and 95% within this year.
      There is a 5% chance that another important govenment member will be hindered by "natuaral causes" (illness, accident, assesination, earth-quake, too much drinking or too much viagra and so on (joking), but there is still a chance for further delays.

      Mongolia Says To Sign Copper, Gold Mine Deal By End Sept
      0 minutes ago - Dow Jones News

      As of 12:00 AM ET 9/17/09

      ULAN BATOR, Mongolia (AFP)--Mongolia hopes to sign a long-awaited deal with mining giants Rio Tinto and Ivanhoe by month's end to launch the vast Oyu Tolgoi copper and gold mine, the country's resources minister said Friday.
      Dashdorj Zorigt, the Asian country's minister for mineral resources and energy, said "last-minute issues" were being ironed out, but that efforts were being made by all parties to have the deal signed by September 30.
      "We are in the process of negotiations, but I am sure we will be able to go ahead and sign it in the near future," Zorigt said.
      "We will try to work it out by the end of this month."
      The project is expected to create 5,000 jobs at the mine and thousands more in the supply chain around it, giving the GDP of impoverished Mongolia, one of the poorest countries in Asia, a major boost.
      The deal would give the government a 34% equity interest in Ivanhoe Mines Mongolia and a $250 million advance on royalties and taxes earned from Oyu Tolgoi.
      Zorigt estimated the project could boost Mongolia's per capita GDP, at about $1,800 in 2008, to $15,000 by 2015.
      "This is a $4 billion investment project," Zorigt said. "As you can imagine, Mongolia will benefit from this flow significantly."
      The minister said he hoped production would begin at Oyu Tolgoi "sometime by 2012 or 2013".
      Mongolia, a former Soviet satellite state, has struggled to develop a sustainable economy since turning to capitalism two decades ago.
      But its rich deposits of copper, gold, uranium, silver and even oil have caught the eye of foreign investors.
      "Mining is the backbone of the Mongolian economy - it accounts for close to 30% of its GDP and 70% of its exports," said Zorigt.
      Late last month, Moscow and Ulan Bator agreed to form a joint venture to exploit the Dornod uranium deposit during a visit by Russian President Dmitry Medvedev. And China is planting oil rigs in the east of the country.
      The Oyu Tolgoi deal, which has been subject to countless delays, is the first of several big contracts the government is hoping to sign.
      Next in the pipeline is Tavan Tolgoi, which is said to be the largest untapped coal field in the world. Mining companies and consortiums from Russia, China, South Korea, and the United States have submitted bids for the project.

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