Энэ 7 хоногт
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Оргилмаа
Л.Оюун-Эрдэнэ “тооноор оруулсан гийчид”-дээ ноцуулж, галзуу шийдвэрийнхээ горыг амсаж байна
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Оргилмаа
Л.Оюун-Эрдэнэ “тооноор оруулсан гийчид”-дээ ноцуулж, галзуу шийдвэрийнхээ горыг амсаж байна
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Оргилмаа
“Халзан бүрэгтэй” төслийн талаарх Засгийн газрын байр суурийг дахин тодотгохыг хүсэж байна, Ерөнхий сайд аа!
Frontier Financial Markets Summary
Enclosed please find your Frontier financial markets summary for July 19, 2010 featuring report on io exercising its Series A Warrants in Ivanhoe Mines
Enclosed please find your Frontier financial markets summary for July 19, 2010 featuring report on io exercising its Series A Warrants in Ivanhoe Mines .
As always, if you have any feedback, suggestions or comments that you would like share with us please drop me a line at da@frontier.mn
BNP Paribas, Standard Chartered and Export Development Canada
to core lender group arranging financing for OT
According to Ivanhoe Mines,” Robert Friedland, Executive Chairman of Ivanhoe Mines, and John Macken, President and Chief Executive Officer, announced today that Ivanhoe Mines has appointed BNP Paribas, Standard Chartered and Export Development Canada to the core lender group of five financial institutions that will lead the arrangement of a project finance debt package for the Oyu Tolgoi copper and gold mining complex in Mongolia.
“The completion of the assembly of the core lender group is a key step in the process of securing the Oyu Tolgoi financing package, which we expect to close in the first quarter of 2011,” Mr. Friedland said. “The five financial institutions have indicated that they are prepared to consider providing limited recourse loans that would total more than US$2 billion, demonstrating the high level of interest in international financial circles in participating in the project and awareness of its game-changing significance to copper and gold markets .”
Mr. Friedland said that Ivanhoe Mines had evaluated expressions of interest from 13 banks and selected Paris-based BNP Paribas and London-based Standard Chartered to work with the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and Export Development Canada (EDC) in arranging the financing.
“As le adi ng glob al in stit utions, BNP Paribas and Standard Chartered have a very strong presence in Asia and, consistent with the commitments of the other core lenders, have indicated that they are considering retaining a significant exposure to the Oyu Tolgoi project debt through a mix of fac il ities ,” Mr. Fri edl and sa id . Th e faci li ties i ncl ude EBRD an d IF C “B” l oan s, fac ili ties b ac ke d b y export credit agencies and commercial loans.
Ivanhoe Mines announced in May that it had signed a joint mandate letter with the EBRD and the IFC for evaluation of a major financing package for the construction of the planned Oyu Tolgoi mining complex. Under the terms of the mandate letter, the IFC, part of the World Bank Group, and the EBRD will consider directly providing up to US$600 million, representing approximately US$300 million each from the IFC and the EBRD, as part of a group of primary lenders in limited-recourse project financing. Export Development Canada (EDC), the Canadia n g overnm ent ’s export credit agency, is considering providing up to US$500 million in direct project financing capacity, subject to necessary approvals, including ensuring that the Oyu Tolgoi Project meets EDC"s environmental and social impact review requirements. Significant support for the Oyu Tolgoi financing also is expected from c om merci al le nders u nde r “B” loan structures and under the guarantee schemes of other export credit agencies. Ivanhoe is discussing additional financing options for the balance of its capital requirements.
The independent 2010 Oyu Tolgoi Integrated Development Plan (IDP-10) estimated that the initial capital cost required to achieve first production from the open-pit mine on the Southern Oyu deposits would be US$4.6 billion. This amount includes US$1.1 billion to be spent advancing underground development at the Hugo North Deposit in preparation for the start of block-cave mining following the start of production from the open pit. Mr. Macken confirmed that the Oyu Tolgoi Project will be developed to allow EDC and the commercial banks involved in the financing to comply with the Equator Principles, a set of voluntary international guidelines based on the IFC’ s social and environmental performance standards. Hatch Corporate Finance advised Ivanhoe Mines on the selection of BNP Paribas and Standard Chartered.
In recent Ivanhoe Mines release, it stated that
Oyu Tolgoi Mine construction underway
Mr. Macken said that with the ramp-up to full construction now well underway, the Oyu Tolgoi workforce has been increased to its current total of 3,100 men and women. Production of copper and gold from Oyu Tolgoi is expected by 2013. The 2010 Oyu Tolgoi Integrated Development Plan (IDP-10) estimated that the initial capital cost required to achieve production from the open-pit mine on the Southern Oyu deposits is US$4.6 billion.
About BNP Paribas (www.bnpparibas.com)
BNP Paribas is one of the six strongest banks in the world by Stand ard & Poo r’s and is the largest bank in the Eurozone by deposits. With a presence in more than 80 countries and more than 200,000 employees, including 160,000 in Europe, BNP Paribas is a leading European provider of financial services on a worldwide scale. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe and solid and fast-growing businesses in Asia.
About Standard Chartered (www.standardchartered.com)
Standard Chartered PLC is a leading international bank, listed on the London, Hong Kong and Mumbai stock exchanges. It has operated for more than 150 years in some of the world"s most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East. The bank ’s growth in recent y ears has been driven by this geographic focus and commitment to developing deep relationships with clients and customers. Standard Chartered is committed to building a long-term sustainable business and upholds high standards of corporate governance, social responsibility, environmental protection and employee diversity.
About Export Development Canada (www.edc.ca)
Export Development Canada (EDC) is Cana da’ s national export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s k nowl edg e a nd partn ers hi ps are us ed by more than 8,400 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, a recognized leader in financial reporting and economic analysis, and has been recognized as one of Cana da’ s T op 100 Employers for nine consecutive years.
As always, if you have any feedback, suggestions or comments that you would like share with us please drop me a line at da@frontier.mn
BNP Paribas, Standard Chartered and Export Development Canada
to core lender group arranging financing for OT
According to Ivanhoe Mines,” Robert Friedland, Executive Chairman of Ivanhoe Mines, and John Macken, President and Chief Executive Officer, announced today that Ivanhoe Mines has appointed BNP Paribas, Standard Chartered and Export Development Canada to the core lender group of five financial institutions that will lead the arrangement of a project finance debt package for the Oyu Tolgoi copper and gold mining complex in Mongolia.
“The completion of the assembly of the core lender group is a key step in the process of securing the Oyu Tolgoi financing package, which we expect to close in the first quarter of 2011,” Mr. Friedland said. “The five financial institutions have indicated that they are prepared to consider providing limited recourse loans that would total more than US$2 billion, demonstrating the high level of interest in international financial circles in participating in the project and awareness of its game-changing significance to copper and gold markets .”
Mr. Friedland said that Ivanhoe Mines had evaluated expressions of interest from 13 banks and selected Paris-based BNP Paribas and London-based Standard Chartered to work with the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and Export Development Canada (EDC) in arranging the financing.
“As le adi ng glob al in stit utions, BNP Paribas and Standard Chartered have a very strong presence in Asia and, consistent with the commitments of the other core lenders, have indicated that they are considering retaining a significant exposure to the Oyu Tolgoi project debt through a mix of fac il ities ,” Mr. Fri edl and sa id . Th e faci li ties i ncl ude EBRD an d IF C “B” l oan s, fac ili ties b ac ke d b y export credit agencies and commercial loans.
Ivanhoe Mines announced in May that it had signed a joint mandate letter with the EBRD and the IFC for evaluation of a major financing package for the construction of the planned Oyu Tolgoi mining complex. Under the terms of the mandate letter, the IFC, part of the World Bank Group, and the EBRD will consider directly providing up to US$600 million, representing approximately US$300 million each from the IFC and the EBRD, as part of a group of primary lenders in limited-recourse project financing. Export Development Canada (EDC), the Canadia n g overnm ent ’s export credit agency, is considering providing up to US$500 million in direct project financing capacity, subject to necessary approvals, including ensuring that the Oyu Tolgoi Project meets EDC"s environmental and social impact review requirements. Significant support for the Oyu Tolgoi financing also is expected from c om merci al le nders u nde r “B” loan structures and under the guarantee schemes of other export credit agencies. Ivanhoe is discussing additional financing options for the balance of its capital requirements.
The independent 2010 Oyu Tolgoi Integrated Development Plan (IDP-10) estimated that the initial capital cost required to achieve first production from the open-pit mine on the Southern Oyu deposits would be US$4.6 billion. This amount includes US$1.1 billion to be spent advancing underground development at the Hugo North Deposit in preparation for the start of block-cave mining following the start of production from the open pit. Mr. Macken confirmed that the Oyu Tolgoi Project will be developed to allow EDC and the commercial banks involved in the financing to comply with the Equator Principles, a set of voluntary international guidelines based on the IFC’ s social and environmental performance standards. Hatch Corporate Finance advised Ivanhoe Mines on the selection of BNP Paribas and Standard Chartered.
In recent Ivanhoe Mines release, it stated that
Oyu Tolgoi Mine construction underway
Mr. Macken said that with the ramp-up to full construction now well underway, the Oyu Tolgoi workforce has been increased to its current total of 3,100 men and women. Production of copper and gold from Oyu Tolgoi is expected by 2013. The 2010 Oyu Tolgoi Integrated Development Plan (IDP-10) estimated that the initial capital cost required to achieve production from the open-pit mine on the Southern Oyu deposits is US$4.6 billion.
About BNP Paribas (www.bnpparibas.com)
BNP Paribas is one of the six strongest banks in the world by Stand ard & Poo r’s and is the largest bank in the Eurozone by deposits. With a presence in more than 80 countries and more than 200,000 employees, including 160,000 in Europe, BNP Paribas is a leading European provider of financial services on a worldwide scale. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe and solid and fast-growing businesses in Asia.
About Standard Chartered (www.standardchartered.com)
Standard Chartered PLC is a leading international bank, listed on the London, Hong Kong and Mumbai stock exchanges. It has operated for more than 150 years in some of the world"s most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East. The bank ’s growth in recent y ears has been driven by this geographic focus and commitment to developing deep relationships with clients and customers. Standard Chartered is committed to building a long-term sustainable business and upholds high standards of corporate governance, social responsibility, environmental protection and employee diversity.
About Export Development Canada (www.edc.ca)
Export Development Canada (EDC) is Cana da’ s national export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s k nowl edg e a nd partn ers hi ps are us ed by more than 8,400 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, a recognized leader in financial reporting and economic analysis, and has been recognized as one of Cana da’ s T op 100 Employers for nine consecutive years.
