Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
SINGAPORE, SINGAPORE–(Marketwire – Sept. 23, 2011) – Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) founder and Chief Executive Officer Robert Friedland said today that the company will issue a statement on Monday, September 26, in response to what it considers to be unauthorized and incomplete information concerning the Oyu Tolgoi Project by members of Rio Tinto’s senior management this week.
About Ivanhoe Mines
Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) is an international mining company with operations focused in the Asia Pacific region. Assets include the company’s 66% interest in the Oyu Tolgoi copper-gold-silver mine development project in southern Mongolia; its 57% interest in Mongolian coal miner SouthGobi Resources (TSX:SGQ)(HK:1878); a 62% interest in Ivanhoe Australia (TSX:IVAN)(ASX:IVA), a copper-gold-uranium-molybdenum-rhenium exploration and development company; and a 50% interest in Altynalmas Gold Ltd., a private company developing the Kyzyl Gold Project in Kazakhstan.
