Ivanhoe Mining Company of Canada issued a statement saying that four huge gold-rich porphyry copper deposits have been discovered in southern Mongolia. The mine is only 80km away from China, and it is the largest copper mine in the world at present, with a reserve of over/kloc-0.70 million tons of copper and 800 tons of gold.
However, in order to realize the comprehensive development of this copper-gold mine, at least an investment of $6543.8+$200 million is needed, which obviously cannot be undertaken by Ivanhoe Mining Company alone. Finally, Ivanhoe Mining Company thought of a good way: to find a strategic partner by selling 8% ~ 18% shares in this copper-gold mine. After many discussions with Japanese, Korean and China companies, Ivanhoe finally cooperated with the powerful Mitsui Co., Ltd. ..
Ivanhoe Copper Company of Myanmar is a joint venture between the Myanmar government and Ivanhoe Mining Company of Canada, and the only copper producer in Myanmar, relying on Letpadaung, the largest copper mine in Myanmar. Recently, the company said it plans to increase the annual production capacity of Grade A cathode copper to 40,000 tons.