Ivanhoe Mines Climb on Mongolian Vote
Vancouver-based Ivanhoe Mines saw shares rise 9.2% today following positive results from an election in Mongolia.
The Canadian company has been trying to develop a large copper project in Mongolia, but efforts have blocked by the Mongolian government’s reluctance to grant permits. Today, a pro-development ruling party gained a parliamentary majority, which could speed up Ivanhoe and partner Rio Tinto’s permit applications.