| MONGOLIA - ONE OF THE FINAL FRONTIERS
Mongolia is a huge country (about three times the size of France) with a population not much bigger than Greater Vancouver, B.C. Located between (and independent of) Russia and China, it is a democratic state with elected governing officials and a free press. It’s southern neighbor, China, is the world’s largest consumer of copper.
The exploration boom that began with the introduction of new foreign-friendly mining laws in 1997, is stronger today than it ever has been. Recent world-class discoveries in Mongolia by Canada's Ivanhoe Mines Ltd. continue to fuel an exploration boom that appears to have no end in sight.
Prior to 1997, Mongolian exploration centered mostly on Soviet/Mongolian government programs that left much of the country under-explored. The highly prospective geology of the country combined with its vast under-explored regions, its proximity to the world’s largest consumer of copper, and the recent world-class discoveries being made there make Mongolia one of the most promising regions in the world for gold and copper exploration.
Mongolian Mining Laws
Mining is far and away Mongolia’s leading industry, accounting for 50 percent of industrial output and more than 40 percent of its export earnings. Gold production alone grew 13.7 percent between 1992 and 2002, with 10.6 metric tonnes produced in 2002.
Mineral laws in Mongolia are very favorable to foreign corporations; they provide equal rights to all investors, both foreign and domestic. Laws allow full foreign ownership of mineral licenses and operations, and there are no restrictions on the repatriation of dividends and profits.Ivanhoe Mines World Class Mongolian Discovery
Canada's Ivanhoe Mines Ltd. Turquoise Hill (Gobi Desert, Mongolia) Project contains over 4 million tonnes of copper and 9.2 million ounces of gold (indicated), with an additional 38 million tonnes of copper and 12.9 million ounces of gold (inferred) at 0.40 percent copper equivalent cut-off (Mineral Resource Summary prepared by AMEC E&C November, 2003).