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| | Ivanhoe Mines Ltd. - Savage River - SAVAGE RIVER IRON ORE MINE, AUSTRALIA - Tue Nov 8, 2005 (Site not responding. Last check: 2007-10-22) |
 | | In February, 2005, Ivanhoe Mines sold the Savage River iron ore mine in Australia to a subsidiary of Stemcor Holdings Limited, of London, England. |
 | | Determination of the contingent, escalating-scale annual payments to Ivanhoe will be based on Savage River iron-ore pellet sales of 1.8 million tonnes per year for the five years between April, 2005, and March, 2010, and an escalating pellet-price formula using the annual Nibrasco/JSM pellet price as the pricing benchmark. |
 | | Ivanhoe's decision to sell the Savage River Mine is part of the company's plan to rationalize its non-core assets as it focuses on the accelerated shaft sinking and underground development of the Hugo deposit at the company's Oyu Tolgoi copper and gold project in Mongolia. |
| www.ivanhoe-mines.com /s/SavageRiver_Australia.asp?printVersion=now&_Title=SAVAGE-RIVER-IRON-ORE-MINE-AUSTRALIA&ReportID=65436,65437 (472 words) |
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