Ivanhoe Mines Joining with Industry in Commencing Detailed Discussions with the DRC Government About New Mining Code

Ivanhoe Mines (TSX:IVN) (OTCQX:IVPAF) welcomes the forthcoming commencement of discussions with the Minister of Mines for the Democratic Republic of Congo and other State representatives. The continued talks have the goal of resolving, in a fair and equitable manner, the mining industry’s concerns with the new DRC 2018 mining code through frank discussion of the terms of legally binding mining regulations and potential transition agreements and amendments to the mining code. This commitment to resolution was made on March 7, 2018 in a joint statement issued following meetings in the DRC capital of Kinshasa, which included President Joseph Kabila Kabange, the Honorable Minister of Mines Martin Kabwelulu, senior members of the DRC government and senior executives of international mining companies that have operations in the DRC.

As quoted in the press release:

Ivanhoe’s Executive Chairman Robert Friedland commented, “What has been missing from the media reports circulating around these changes is in-depth reporting of the key details of the 2002 and 2018 mining codes, including the existence of the 10-year stability clause in the 2002 mining code. This stability clause allows the mining companies to operate under the 2002 mining code for a period of 10 years after the promulgation of a new mining code. The headlines simply do not tell the whole story. The 2018 mining code is a long and detailed new piece of legislation that will be further supplemented by the forthcoming mining regulations and potentially by transition agreements or amendments to the mining code. We have every expectation these discussions will result in binding laws that address the industry’s concerns and also fairly achieve the goals of the DRC government.”

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