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The alliance covers the development of copper, gold and coal projects in the South Gobi area of Mongolia and will initially focus on developing infrastructure to support Ivanhoe’s projects in the region.
Mitsui has committed to participating in the development of Ivanhoe’s 100%-owned coal project in Southern Mongolia. Ivanhoe is currently undertaking drilling at the project, aimed at delineating a maiden resource. The alliance also covers the Tavan Tolgoi coal exploration project in South Gobi.
Robert Friedland’s Ivanhoe is also considering working with Mitsui in the development of the Oyu Tolgoi copper-gold project in Mongolia.
Together, the companies formed the South Gobi Power Development Corporation to provide a new source of electricity for the region.
No financial details of the alliance were released.
