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Reuters-Myanmar Ivanhoe Copper Comp (r)



Subject: Re: Reuters-Myanmar Ivanhoe Copper Company applies for registration 

It is good result that the compnay shows support  of
James Mawdsley and Rachel Goldwyn, who have been
locked in the jail in Burma.   

The two activists urged all British companies doing
businesses with the SPDC to leave from Burma.

Good Luck James and Rachel!! 


--- TIN KYI <tinkyi@xxxxxxxxxxxxx> wrote:
> Ivanhoe Mines announces Myanmar Ivanhoe Copper
> Company applies for
> registration of Monywa S&K Cathode Copper on London
> Metal Exchange
> 02:17 p.m Sep 20, 1999 Eastern
> SINGAPORE, Sept. 20 /CNW-PRN/ - Robert M. Friedland,
> Chairman, announced
> today that Myanmar Ivanhoe Copper Company Limited
> (MICCL) has made an
> application to London Metal Exchange (LME) for
> registration of its cathode
> copper under the ``Monywa S&K'' brand name.
> Metallgesellschaft Ltd. of
> London is sponsoring the application. The LME
> registration would certify
> that S&K cathode has a purity level exceeding
> 99.999% copper, the standard
> for LME Grade A copper, as well as meeting other
> quality parameters. It
> would also confirm that Monywa is recognized as a
> reliable source for
> high-quality copper.
> 
> Upon receipt of LME registration, MICCL will realize
> a premium for its
> cathode of approximately US$30 a tonne (US1.4 cents
> a pound). Based on S&K's
> current copper production of 28,000 tonnes a year,
> the LME registration
> would increase the mine's annual cash flow by
> approximately US$840,000.
> 
> The S&K Mine, the first phase of the Monywa Copper
> Project, is operated by
> MICCL, a 50/50 joint venture between Ivanhoe Mines
> and Mining Enterprise No.
> 1, a state-owned company. The mine began production
> of cathode copper in
> November, 1998. By the end of August, 1999, the mine
> had produced 20,715
> tonnes (approximately 45.5 million pounds) of
> copper. S&K is currently
> producing copper at a rate 12% higher than the
> mine's initial design
> capacity of 25,000 tonnes per annum. The average
> minegate cost of production
> to date is approximately US27 cents a pound, placing
> the mine among the
> world's lowest-cost primary copper producers.
> 
> The current development plan for the mine calls for
> an initial expansion at
> S&K to raise annual copper production to 35,000
> tonnes. This expansion is
> expected to begin in October and is scheduled to be
> completed by September,
> 2000.
> 
> Ivanhoe Mines has 74.2 million shares outstanding
> and had a cash balance of
> approximately US$52.3 million at August 31, 1999.
> The company's shares trade
> on the Toronto and Australian stock exchanges under
> the symbol IVN.
> 
> FORWARD-LOOKING STATEMENTS: This news release
> contains certain
> forward-looking statements. All statements, other
> than statements of
> historical fact, included herein, including, without
> limitation, statements
> regarding future copper production and expansion
> plans of Ivanhoe Mines Ltd.
> (Ivanhoe) are forward-looking statements that
> involve various risks and
> uncertainties. There can be no assurance that such
> statements will prove to
> be accurate and actual results and future events
> could differ materially
> from those anticipated in such statements. Important
> factors that could
> cause actual results to differ materially from
> Ivanhoe's expectations are
> disclosed under the heading ``Risk Factors'' and
> elsewhere in Ivanhoe's
> documents filed from time to time with the Toronto
> Stock Exchange and other
> regulatory authorities. Forward-looking statements
> are based on the
> estimates and opinions of management on the date the
> statements are made,
> and Ivanhoe does not undertake any obligation to
> update forward-looking
> statements should conditions or management's
> estimates or opinions change.
> SOURCE Ivanhoe Mines Ltd.
> 
> 
> 
> 
> 
> 

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