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Entree Resources Ltd T.ETG

Alternate Symbol(s):  ERLFF

Entree Resources Ltd. is a Canadian mining company. The Company is focused on the development and exploration of mineral property interests. The Company is principally focused on its Entree/Oyu Tolgoi JV Property in Mongolia. The Entree/Oyu Tolgoi joint venture property includes Lift 1 and Lift 2 of the Hugo North Extension copper-gold deposit, the Heruga copper-gold-molybdenum deposit, and a large underexplored, highly prospective land package. The Oyu Tolgoi project comprises two separate land holdings: the Entree/Oyu Tolgoi JV Property, which is a partnership between Entree and OTLLC, and the Oyu Tolgoi mining license, which is held by OTLLC. The Entree/Oyu Tolgoi JV Property comprises the eastern portion of the Shivee Tolgoi mining license and all the Javhlant mining license. The Company has a 56.53% interest in the Blue Rose Joint Venture. The Company has an interest in acquiring a 0.5% net smelter return royalty on the Canariaco copper project in Northern Peru.


TSX:ETG - Post by User

Bullboard Posts
Post by scissors14on May 07, 2006 8:34pm
234 Views
Post# 10808430

Mongolian protest ends

Mongolian protest endsMongolian protest ends; government to investigate agreement with Cdn company ULAN BATOR, Mongolia (AP) - Some 200 demonstrators have ended their protests over alleged government corruption and the mishandling of mineral wealth in Mongolia after the country's leaders agreed to investigate agreements signed with foreign mining companies. They were demanding that the government resign if it could not obtain favourable terms for Canadian mining company Ivanhoe Mines Ltd. (TSX:IVN - news) concession to mine huge copper and gold deposits in the southern Gobi region. The activists, including 10 people on hunger strike, had been camped in a central square in the capital Ulan Bator for two weeks when their demonstration ended late Sunday. The demonstrators gave up their protests after Prime Minister Mieagombo Enkhbold and his cabinet ministers agreed to investigate agreements signed with foreign mining companies under previous administrations. The government will also look into mining licensing issues and work together to amend the Mongolian minerals law, passed in 1997, which protesters say favours foreign mining companies. "We demonstrated during the last two weeks to establish a just and transparent government, and as a result they have listened to us," said S. Ganbaatar, an activist with Radical Reform, one of several civic groups that claim to represent Mongolia's poor and unemployed. The company under the spotlight, Ivanhoe Mines Ltd., has not been accused of improprieties. The Vancouver, British Columbia-based company discovered the massive Oyu Tolgoi copper and gold deposit in the Gobi Desert and is negotiating an agreement with the government on tax and other policies to develop the project. Ivanhoe got its licenses in 2003 "based on transparent and rigorous compliance with all Mongolian laws, policies and procedures," Layton Croft, executive vice-president for corporate affairs for Ivanhoe Mines, said Monday. Ivanhoe has said the project will generate 117,000 jobs and boost the economy. Copper mining is a major part of the economy of this former Soviet satellite that is sandwiched between China and Russia. The country and its 2.5 million people have suffered a steep economic decline since radical free-market reforms were launched in the early 1990s. Politicians have clashed repeatedly over how to exploit the mineral resources. The opposition accuses the government of giving away Mongolia's wealth and wants the law changed to give the government a large share of all foreign-owned mines.
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