Ivanhoe Mines and strategic partner, Rio Tinto, have reached agreement in principle with the Mongolian Government"s Working Group on a draft Investment Agreement for the development of the Oyu Tolgoi copper-gold project in Mongolia"s South Gobi Region.

The draft agreement remains subject to review and approval by the Cabinet of the Mongolian Government and the National Parliament and the settlement of definitive documentation. The draft agreement also is subject to review and approval by the boards of directors of Ivanhoe Mines and Rio Tinto.