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Thursday, 19th August 2004 (4055 views)

The president of Mongolia has highlighted his support for the development of Ivanhoe Mines' Oyu Tolgoi copper-gold project in South Gobi.<BR/><BR/>Robert Friedland, chairman of Ivanhoe Mines, has welcomed the support from President Bagabandi and met with him to explain the progress made so far at the mine.<BR/><BR/>A key factor discussed with the president was the importance of completing a detailed, long-term stability agreement, which will establish a framework of tax and import and export infrastructure measures and is now in the late stages of negotiation with the national government.<BR/><BR/>President Bagabandi "expressed his continued support for the project, underlining its importance to the economic development and future of the country".<BR/><BR/>In addition, the president reassured Mr Friedland that he wanted the project to be "implemented successfully" and that the agreement "shall be concluded soon between the government of Mongolia and Ivanhoe Mines".<BR/><BR/>It is hoped the mine will be in production by mid 2007.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3253788"/>

 

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