Turquoise Hill Resources

2000 - In December ABM Mining (private) was merged into Ivanhoe Mines. At the time Ivanhoe's main assets included 50% of Myanmar's Monywa Copper Project (28,500 tonnes/year); that year production by both companies totalled 13,350 tonnes for copper, 2 million tonnes for iron ore pellets and 48,000 tones for iron ore concentrate. ABM Mining was founded in 1997 and remained a privately held company until the merger. 2002 - Subsidiary ABM Mining purchased all of the outstanding debt associated with the Savage River iron ore project in Tasmania, Australia giving ABM Mining a priority claim on the project's assets. 2005 - Savage River Project sold to Stemcor Holdings Limited of London for up to US$170 million. The spinoff was part of the company's efforts to shift focus to Oyu Tolgoi (specifically the Hugo deposit). 2007 - In May the company sold all of its coal projects including Ovoot Tolgoi to Asia Gold Corp (currently SouthGobi); as part of the transaction Asia Gold gave Ivanhoe Mines over 80 million more shares of the company raising its interest in it from 45% to a majority stake. Later in October Rio Tinto helped Ivanhoe gain access to a $350 million credit facility which Oyu Tolgoi needed for further development. 2008 - In January Ivanhoe Mines raised $117.9 million through a series of private placements one of which increased its interest in SouthGobi (when it converted preferred shares into common shares). Also that month the newly discovered Heruga Deposit at Oyu Tolgoi was for the first time officially acknowledged (estimates completed) as having a substantial resource of copper, gold and molybdenum. Three months later, in April the government approved the Ovoot Tolgoi project allowing Ivanhoe to begin production in the southern portion (Sunset Field). In May it sold its majority interest in Jinshan Gold Mines for C$216.7 million. Later that summer Ivanhoe's Australian subsidiary went public with a A$125 million IPO (62.5 million shares) and Rio Tinto helped the Oyu Tolgoi project acquire certain equipment. Ivanhoe Australia was floated on the ASX exchange with Ivanhoe Mines owning 80% of it. 2012 - April - Ivanhoe Mines sells its 57.6% share of SouthGobi Resources to Chalco for $889 million. The decision came partly as a result of pressure from Ivanhoe's largest shareholder Rio Tinto to sell non core assets. To obtain the additional funding, it was required that Ivanhoe Mines change its name and that founder Robert Friedland resign as CEO. ==Developments by product==

Coal Nariin Sukhait (Ovoot Tolgoi, flagship coal mine that is already producing, 114.1 million tonnes in reserves), and two development projects, the Soumber Deposit (55.5 million tonnes in reserves) and the Ovoot Tolgoi Underground Deposit. Ivanhoe exited these operations on April 2, 2012, when it sold its 57.6% interest in SouthGobi Resources Inc to Chalco for $889 million. Molybdenum, silver, rhenium, uranium, lead, zinc The mines, acquired in 2003, are located at Mount Isa, Cloncurry, with the largest project being the Merlin mine, which has the world's highest grade molybdenum-rhenium deposit. The other is Tennant Creek. It has also acquired the Barrick Gold Osborne asset near Merlin, which has an ore processing plant. Completion of the purchase required $18 million. Copper, gold Oyu Tolgoi has measured and indicated reserves of at least 36.3 billion pounds of copper and 20.2 million ounces of gold. Newly discovered deposits at Oyu Tolgoi could add substantially to the measured and indicated reserves estimates. Kyzyl gold project In Northern Kazakhstan; according to an independent pre feasibility study by UK engineering and consultant group Scott Wilson Ltd. the mine's reserves are estimated at 3.3 million ounces and mine life 10 years. ==Oyu Tolgoi==

The copper and gold rich property discovered by Ivanhoe Mines in 2001, is in the process of being transformed into an open pit and underground mining operation. It is located 80 km north of the China Mongolia border giving the companies that produce there an added benefit (China is the world's biggest market for commodities futures). In September 2010 Oyu Tolgoi reserves were placed at 81.3 billion pounds for copper and 46.4 million ounces for gold. Construction of the Oyu Tolgoi mine was 15% complete at the end of March 2011, ahead of schedule which calls for first production in 2013 and full production in 2018. In 2011 14,000 people will be working at the site. By the end of February 2012 construction of Oyu Tolgoi was 73% complete. ==Relationship with Rio Tinto==

Rio Tinto has expressed interest in raising its stake in the company from 35% to 46.6%, eventually leading to a takeover. However, Ivanhoe Mines is not interested in selling out. Ivanhoe has implemented a shareholder rights plan aimed at preventing a creeping takeover. Though Ivanhoe still needs to raise billions of dollars to develop key projects, it is confident that either other investors will come forward or the financing will become available. It is seeking $2 billion in financing from 13 institutions. In June 2011, Rio Tinto paid $502 million for 55 million more shares of Ivanhoe Mines, or 4.5% more of the company (up to 46.5%). The move gave it 7 of 14 board seats. By early 2012, Rio Tinto owned 51%. In April 2012, Robert Friedland resigned as CEO of Ivanhoe Mines. As of July 2018, the CEO of Turquoise Hill Resources is Ulf Quellmann, an experienced finance executive from Rio Tinto. ==References==