Jan 6 (Reuters) - Canadian mining company Ivanhoe Mines (IVN.TO) said on Wednesday it has hired Citigroup (C.N) and mining specialist Hatch Corporate Finance to explore Ivanhoe’s strategic options, including a sale of shares or debt, selling off a subsidiary, or other options. [ID:nN06209449]
The following are some of Vancouver-based Ivanhoe’s key assets and equity investments, based on information from the company’s website.
Oyu Tolgoi - Ivanhoe owns one of the world’s largest copper-gold development projects at Oyu Tolgoi, Mongolia. The project is located 80 km (50 miles) north of the China border.
In October, Ivanhoe and its partner, Rio Tinto (RIO.AX) (RIO.L), signed a long-delayed investment agreement with Mongolia clearing the way for development of Oyu Tolgoi. The initial open-pit phase is expected to cost $3.5 billion.
Under the agreement, Mongolia took a 34 percent stake in the project. [ID:nSP495396]
SouthGobi - Ivanhoe also owns an 80 percent stake in coal miner SouthGobi Energy (SGQ.TO), which plans to raise about $400 million from a Hong Kong initial public offering this month. [ID:nTOE60305R] [ID:nN07164071]
SouthGobi’s flagship project is its Ovoot Tolgoi mine, located just 40 kilometers north of the Mongolia-China border. The mine, which produces both metallurgical coal and thermal coal, began shipments to Chinese buyers in September 2008.
Entree Gold (ETG.TO) - is a resource company engaged in the exploration and advancement of copper and gold prospects.
Currently, Entree’s land holdings are located in the southern part of Mongolia, adjoining Ivanhoe Mines’ Oyu Tolgoi mine. It also has assets in Arizona.
Ivanhoe owns a 14.8 percent stake in the company.
Ivanhoe Australia - is a subsidiary of Ivanhoe Mines that was listed in 2008. It is 82.9 percent owned by Ivanhoe.
Ivanhoe Australia plans to focus on the exploration and development of molybdenum, rhenium, copper, gold, zinc, silver and uranium projects.
Altynalmas Gold - is focused on the development of what are called the Kyzyl Shear assets in Kazakhstan. Ivanhoe Mines owns 49 percent of Altynalmas Gold. (Compiled by Euan Rocha)