Ivanhoe Mines Appoints New Chairman and Additional Director
11 Mai 2012 - 2:04PM
Marketwired
Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) announced today that
the company's Board of Directors has appointed Dr. David Klingner
as chairman. The board has also reappointed Livia Mahler as a
company director.
Upon his appointment, Dr. Klingner said, "It is an honour to be
appointed Chairman of the Ivanhoe Mines Board of Directors. The
company is advancing towards a significant milestone as phase one
construction at Oyu Tolgoi nears completion and production is set
to begin. The people of Mongolia will benefit from Oyu Tolgoi,
which will be one of the country's largest mining operations. I
look forward to working with my fellow directors and the new senior
management team as we further develop this impressive
operation."
Kay Priestly, Ivanhoe Mines Chief Executive Officer, said, "The
appointment of David Klingner as Chairman and reappointing of Livia
Mahler as a director is another important step in the corporate
governance transition agreed by Ivanhoe and Rio Tinto. The
agreement with Rio Tinto announced on April 18, 2012 also
establishes a comprehensive financing plan providing financial
stability supporting the development of Oyu Tolgoi for the benefit
of all shareholders.
"At the end of April, Oyu Tolgoi's overall phase one
construction was 82% complete and mining and stockpiling of first
ore from the open pit had begun, which is indicative of the good
progress we are making. Moving forward, our strategy will focus on
the continued timely development of Oyu Tolgoi where we expect
first production in the second half of 2012 and the beginning of
commercial production in the first half of 2013."
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; a 58% interest in Mongolian coal miner SouthGobi
Resources (TSX:SGQ)(HK:1878); a 59% interest in copper-gold miner
Ivanhoe Australia (ASX:IVA)(TSX:IVA), which also is developing a
molybdenum-rhenium discovery; and a 50% interest in Altynalmas
Gold, a private company developing the Kyzyl Gold Project in
Kazakhstan.
Ivanhoe Mines' shares are listed on the New York, NASDAQ and
Toronto stock exchanges under the symbol IVN.
Forward-looking statements
Certain statements made herein, including statements relating to
matters that are not historical facts and statements of our
beliefs, intentions and expectations about developments, results
and events which will or may occur in the future, constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation and "forward-looking statements"
within the meaning of the "safe harbor" provisions of the United
States Private Securities Litigation Reform Act of 1995.
Forward-looking information and statements are typically identified
by words such as "anticipate," "could," "should," "expect," "seek,"
"may," "intend," "likely," "plan," "estimate," "will," "believe"
and similar expressions suggesting future outcomes or statements
regarding an outlook. These include, but are not limited to
statements made with respect to the scheduled start of production
from the initial open-pit mine in the second half of this year;
statements regarding the ramp-up to commercial production during
the first half of 2013; and statements regarding the memorandum of
agreement that establishes Rio Tinto's support for a series of
funding measures expected to cover all projected capital
requirements for Ivanhoe's flagship Oyu Tolgoi Project in southern
Mongolia.
All such forward-looking information and statements are based on
certain assumptions and analyses made by Ivanhoe Mines' management
in light of their experience and perception of historical trends,
current conditions and expected future developments, as well as
other factors management believes are appropriate in the
circumstances. These statements, however, are subject to a variety
of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected
in the forward-looking information or statements. Important factors
that could cause actual results to differ from these
forward-looking statements include those described under the
headings "Risk Factors" and "Risks and Uncertainties" elsewhere in
the Company's periodic filings with Canadian and U.S. securities
regulators. Readers are cautioned not to place undue reliance on
forward-looking information or statements.
Contacts: Ivanhoe Mines Ltd. Jason Combes Investors +1
604.648.3920jasonco@ivancorp.net Ivanhoe Mines Ltd. Tony Shaffer
Media +1 604.648.3934tonysh@ivancorp.net www.ivanhoemines.com
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