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Ivanhoe Mines history
Ivanhoe Mines company history timeline
In 1999, additional drilling and exploration was recommended; however, further exploration at Oyu Tolgoi by BHP was discontinued due to cut-backs in BHP’s exploration budgets.
Ivanhoe Mines signed an option agreement with BHP to earn 100% interest in the Oyu Tolgoi Concession in May 2000.
In 2001, Ivanhoe Mines continued RC drilling, mostly in the Southern Oyu area to delineate possible oxide resources followed by three diamond drill holes in Southern Oyu, Southwest Oyu and Central Oyu, respectively.
BHP Billiton’s back-in rights expired in mid-2002, giving Ivanhoe complete control over the project, except for a 2% net smelter royalty held by BHP Billiton.
By mid-2003, there were 18 exploration drill rigs on the property employing approximately 200 people, and Oyu Tolgoi was the biggest mining exploration project in the world.
In 2004, Ivanhoe Mines entered into an earn-in and equity participation agreement with Entrée Gold to explore and potentially develop approximately 40,000 hectares of Entrée’s 100%-owned, Shivee Tolgoi (Lookout Hill) property, adjacent to Ivanhoe’s Oyu Tolgoi copper-gold discovery in Mongolia.
2010 phase-one drilling program progressing at Ivanhoe Mines’ 50%-owned Kyzyl Gold Project in northeastern Kazakhstan
Ivanhoe Mines Announces Financial Results and Review of Operations for the Third Quarter of 2011
Ivanhoe Mines approves US$2.3 billion budget for ongoing construction at Oyu Tolgoi copper-gold mining complex in 2011
Ivanhoe Mines rights to cease trading on New York Stock Exchange and NASDAQ on July 18, 2012, and on Toronto Stock Exchange at noon on July 19, 2012
Ivanhoe Mines reports construction of Oyu Tolgoi copper-gold complex on schedule for initial test production in 2012
Turquoise Hill Resources announces financial results and review of operations for the first quarter of 2013
Turquoise Hill announces financial results and review of operations for the third quarter of 2015
In 2015, Ivanhoe sold half of its interest in the Kamoa copper project to Zijin Mining Group, a Chinese mining company, for US$412 million.
Turquoise Hill announces financial results and review of operations for the third quarter of 2016
Turquoise Hill announces financial results and review of operations for the third quarter of 2018
In February 2020, the initial mineral resource estimate for the Kamoa North Bonanza Zone included 1.5 million tonnes of Indicated Resources grading 10.7% copper, at a 5% cut-off.
Turquoise Hill to announce third quarter financial results on November 13, 2020
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Ivanhoe Mines may also be known as or be related to Ivanhoe Mines, Ivanhoe Mines Ltd and Ivanhoe Mines Ltd.