A Communist Legacy- History Repeats itselfEarly 70s: the U.S.S.R. loses its ally Alende in Chile to Pinochet's
dictatorship. The Soviet Union is in desperate need to secure its
copper need for the whole Communist Society during Cold War.
A ittle project prospected by Mongolian-Chechoslovakian
geologists (a young geologist named Garamjav was in the
team) at location called Erdenetiin Ovoo(Treasure Hill) gets
streamlined and in 1978 what's now Erdenet Mining Corp. a
Mongolian-Russian J.V. opens up. It become a major cash cow
for Mongolia for years and years. Of course, Mongolian People's
Republic Party was ruling during that time.
Early 2000s: The People's Republic of China is hungry for
resources including copper to feed its economic growth. Ivanhoe
mines, R.F.'s baby discovers ( same geologist, Garamjav
Dondog is the chief geologist for the project).Oyu Tolgoi
(Turquoise Hill)- a
HUGeO copper-gold deposit. This time, Mongolian People's
Republic
Party was an ELECTED majority in Mongolian Parliament. With
their last parliamentary session of the term coming soon, it's
very likely that they will ratify the Stability Agreement with Ivanhoe
to develop O.T. into a law. Tax dollars to Mongolians and profits
to IVN shareholders. Another cash cow for Mongolians. Another
legacy of MPRP, a very good PR for the party, indeed.
Ladies and gens, load up your trucks with IVN, IVN.WT & HUGO
Aubagger