December 10, 2011

Ivanhoe to build Oyu Tolgoi power plant by 2017 - MarketWatch

Ivanhoe to build Oyu Tolgoi power plant by 2017 - MarketWatch: "LONDON -(MarketWatch)- Ivanhoe Mines Ltd will need to build a new power plant by the summer of 2017 as part of its agreement with the Mongolian government to develop the country's massive Oyu Tolgoi copper-and-gold deposit.

Peter Meredith, deputy chairman of Canada-based Ivanhoe Mines, which owns a 66% stake in Oyu Tolgoi, told the Terrapinn Mongolia Investment Summit that: "We are required to build a power plant within four years of first production."

Oyu Tolgoi is due to begin first commercial production by mid-2013."

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