The Search For Investors For The Mwetaung Nickel DepositsPublished by MAC on 2005-08-12
Problems at Monywa
Power shortages and higher operating costs are hurting production and digging into profits at Ivanhoe's Monywa mine, in spite of record prices for its copper cathode. The joint venture company also seems to be having difficulty getting delivery of imported ore haulage trucks and other equipment which will dig further into profits later this year. The long anticipated hookup with one or more East Asian partners in developing the Letpadaung copper deposit is still hanging fire until the electric power supply question can be resolved.
There's no recent news from Ivanhoe's gold mining venture at Moditaung in Yamethin township.
(Ivanhoe's full report is at http://www.ivanhoe-mines.com/i/pdf/2005-08-12_NR.pdf)