Ivanhoe Mines Adds BNP Paribas, Standard Chartered and Export Development Canada

Ivanhoe Mines has appointed BNP Paribas, Standard Chartered and Export Development Canada to the core lender group of five financial institutions that will lead the arrangement of a project finance debt package for the Oyu Tolgoi copper and gold mining complex in Mongolia.

The press release is quoted as saying:

Significant support for the Oyu Tolgoi financing also is expected from commercial lenders under “B” loan structures and under the guarantee schemes of other export credit agencies. Ivanhoe is discussing additional financing options for the balance of its capital requirements. The independent 2010 Oyu Tolgoi Integrated Development Plan (IDP-10) estimated that the initial capital cost required to achieve first production from the open-pit mine on the Southern Oyu deposits would be US$4.6 billion.

Click here to access the entire press release

Click here to access Ivanhoe Mines Corporate Site