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Oyu Tolgoi Investment Agreement is signed

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The Oyu Tolgoi Investment Agreement[1] is signed by Rio Tinto, Ivanhoe Mines and the Mongolian government. It lasts for 30 years with a possible additional 20 year, involving a USD 4 billion investment in the completion and operation of the copper mine. The agreement will freeze tax rates and royalty payments. The agreement took 6 years of negotiation. The World Bank perceives the agreement “to be the model agreement for future mining projects…” (2009:15) Read more

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Ivanhoe-Entree joint venture expands

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Ivanhoe’s deep exploration drilling on the Ivanhoe-Entree licence finds high-grade copper and gold presence, resulting in the discovery of the Heruga Deposit and the Heruga North Deposit which lies between the Heruga and Southern Oyu deposits.[1]

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Initial Oyu Tolgoi Investment Agreement

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The negotiation of an agreement results in a draft OTIA is approved by cabinet in June, but it is subsequently stalled by President Enkhbayar, who insists on 51% ownership of the mine. This turned into a condition for both political parties, MPRP and DP, by 2008, but is rejected by Ivanhoe and Rio Tinto.

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Ivanhoe Mines signs strategic partnership with Rio Tinto

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The two mining corporations form a strategic partnership for the construction and operation of Oyu Tolgoi. [1] Rio Tinto negotiates an exit clause in case the investment agreement is not signed.

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Ivanhoe Mines joins Entrée Gold

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This given Ivanhoe mines access to another 40,000 hectares that lies next to its Oyu Tolgoi field[1].

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Ivanhoe Mines acquires 100% of Oyu Tolgoi

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In 2002 Ivanhoe Mines acquires 98% from BHP and acquires the last 2% in November 2003[1]. Negotiations start with the Government of Mongolia. Read more

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Ivanhoe Mines discovers extent of deposits

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Ivanhoe Mines drills hole ‘OTD-150’ and confirms the extent of high grade copper and gold deposits, and for the first time indicates the scale of the deposits.

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Ivanhoe Mines becomes involved

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Mining company Ivanhoe Mines signs an option agreement with BHP and in May 2000 Ivanhoe Mines secures 98% of the Oyu Tolgoi exploration license[1].

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BHP finds copper deposit at Oyu Tolgoi

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BHP Minerals International Exploration Inc. obtains licenses to explore for copper and gold in the South Gobi Desert and finds porphyry copper deposits at Oyu Tolgoi[1].

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