Big Oyu Tolgoi copper-gold mine in Mongolia 23% built

Ivanhoe Mines Ltd said nearly one-fourth of the construction of its flagship Oyu Tolgoi project in Mongolia was completed by May and it continued to be ahead of schedule, sending its shares up 3 percent in Toronto and New York.

Ivanhoe said arbitration proceedings with project partner Rio Tinto regarding Ivanhoe’s shareholders’ rights plan is expected to resume later this month, following the expiry of a mutually-agreed six-month suspension.