Ivanhoe Mines (TSX:IVN)

[Tommy]

$IVP.TO - $IVPAF - Ivanplats Announces Financial Results and Review of Operations for the First Quarter of 2013

Major increases in resources at two key projects
in South Africa and the DRC in Q1 2013

Agreement reached on upgrading of a third hydroelectric power plant
in the DRC to support expanded mining scenarios
at Ivanplats' Kamoa copper discovery

http://www.ivanplats.com/s/NewsReleases.asp?ReportID=584484&_Type=News-Releases&_Title=Ivanplats-Announces-Financial-Results-and-Review-of-Operations-brfor-the-Fi...

... "HIGHLIGHTS

In January 2013, a new independent resource estimate more than doubled high-grade Indicated Mineral Resources at Ivanplats' Kamoa copper discovery in the Democratic Republic of Congo (DRC). Kamoa now ranks as Africa's largest high-grade copper discovery and the world's largest undeveloped high-grade copper discovery. This expansion of resources represents a major advance in Ivanplats' plans to bring the Kamoa Copper Project into production.

Also in January 2013, Ivanplats appointed senior mining executive Steve Garcia to lead the company's mine-building team in Africa. The roster of executive appointments also included Andre Zeelie, Gopolang Enoch Makokwe and Jeremy Michaels.

In March 2013, a new independent resource estimate significantly expanded and upgraded the mineral resources at the Flatreef Discovery on Ivanplats' Platreef platinum, palladium, gold and rhodium (4PE), nickel and copper project on the Northern Limb of South Africa's Bushveld Complex. The Flatreef averages 24 metres in true thickness at a 2.0-gram-per-tonne (g/t) 3PE cut-off grade and is potentially amenable to large-scale, mechanized underground mining. The thick Flatreef mineralization remains open for expansion, with approximately 37.5 square kilometres of property untested.

In April 2013, DRC's state-owned power company, La Société Nationale d'Electricité, signed a memorandum of understanding with Ivanplats to upgrade a third hydroelectric power plant - Nzilo 1 - to secure an additional supply of sustainable electricity for the Company's Kamoa Project. The proposed Nzilo 1 upgrade would be in addition to the planned upgrades by Ivanplats of the Mwadingusha and Koni hydroelectric plants. The three plants could produce a combined 200 megawatts of long-term, clean electricity for the grid, which would be more than sufficient to launch production at Kamoa.

In May 2013, Ivanplats expanded its mine-building team with the hiring of Brock Gill as Managing Director of the Kamoa Project and Vice President of DRC Operations, effective June 1, 2013.

The Mining Right Application for Ivanplats' Platreef Project is being finalized for application in Q2'13." ...