Horizons expand

WA-BASED Ivanhoe Mines Ltd has expanded its Mongolian presence after signing two new agreements, delivering it an additional 353sq kilometres on two new prospects, Shuteen and Turquoise Ridges, which sit about 120 kilometres north of Ivanhoe’s initial gold and copper discovery at Turquoise Hill.

Meanwhile, WA mining firm Exco Resources NL has acquired a 60 per cent stake in an Indonesian gold and copper mine in South Sumatra known as Manna Project, to be developed as a joint venture with a local company PT Danmar Explorindo.

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