Replies to post #164 on Turquoise Hill Resources, Ltd. (Ivanhoe Mines LTD) (TRQ)

[Pro-Life]

Ivanhoe Mines Announces the Appointment of Texas Business Executive as Additional Independent Director
Date : 11/05/2010 @ 5:53PM
Source : MarketWire

http://ih.advfn.com/p.php?pid=nmona&article=45109006&symbol=IVN

Robert Friedland, Executive Chairman and Chief Executive Officer of Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN), today announced the appointment to the Ivanhoe Mines Board of Directors of Robert B. Holland III, a Dallas, Texas, oil executive and former United States Executive Director of the World Bank.

Mr. Holland will serve as a non-executive, independent member of the Ivanhoe board, effective immediately, filling a vacancy created by the retirement of Robert Hanson after more than a decade as a member of the Ivanhoe Mines Board of Directors.

Mr. Holland's nomination to the 14-member Ivanhoe Mines board by Rio Tinto increases the present number of Rio Tinto appointees to four. Rio Tinto is entitled to nominate a proportionate share of members to the Ivanhoe board, based on Rio Tinto's shareholding in Ivanhoe, under terms of the October 2006 private placement agreement between Rio Tinto and Ivanhoe Mines. Rio Tinto currently owns a 34.9% interest in Ivanhoe Mines.

Mr. Holland is Executive Co-Chairman of Max Petroleum Plc, which is conducting oil exploration in Kazakhstan and is listed on the London Stock Exchange. Other current directorships are with Massey Energy Company and Financial Guaranty Insurance Corporation. A former Dallas attorney, he held the US presidential appointment as US Executive Director of the World Bank between 2002 and 2006, and previously was Managing Partner of Texas Limited, a Dallas consultancy, and CEO, COO and General Counsel with international explorer Triton Energy Ltd.

Mr. Friedland thanked Mr. Hanson, Chairman of London-based Hanson Capital Investments, for his role in providing governance guidance to Ivanhoe Mines. "Robert has been a valued member of the board through Ivanhoe's prime development years, a period that has seen our Mongolia investments evolve from geologists' dreams to transformative mining projects. His experience and insights will continue to be provided to the boards of Asia-focused SouthGobi Resources and Sunwing Energy, which are associated with the Ivanhoe group of companies."