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Conservation Headlines
6/15/2001
Ivanhoe's Savage River mine receives award for environmental excellence
Ivanhoe Mines Ltd.
SINGAPORE, June 15 /PRNewswire/ - Ivanhoe Mines Ltd.'s President, Daniel
Kunz, announced today that the company's Savage River iron ore mine has
received a prominent award commending the company for environmental
excellence at its mining operation in northwestern Tasmania, Australia.
The Tasmanian Environment Minister's 2001 Environmental Excellence Award
for the Mining and Mineral Processing Sector recognizes the company's
innovative environmental management practices that are successfully
controlling the flow of rainfall run-off water and treating historic acid
mine drainage captured in accumulated pit water before the water is released into
Savage River, which flows through the mine property.
Following established World Best Practice Environmental Management and
other proven control techniques, Savage River's mine water management system
has beneficially increased alkalinity, raised the pH level and lowered
turbidity in the river downstream from the mine. Water quality has improved
to such an extent that trout have returned to a 20-kilometre stretch of the
river that previously would not support fish and most other aquatic life.
The 30-year-old Savage River mine was acquired four years ago by ABM
Mining Limited, a wholly-owned subsidiary of Ivanhoe Mines. At the time, ABM
pledged to rehabilitate the mine site and to take steps to address existing
environmental impacts produced by decades of earlier mining conducted under
previous corporate owners. ABM is committed to complying with best-practice
environmental management at its Savage River operations, which ABM has
upgraded through an investment of more than AUS$100 million.
The overall Savage River Rehabilitation Project is jointly managed by
ABM and the Tasmanian government's Department of Primary Industries,
Water and Environment. A copy of the rehabilitation project's newsletter, Savage
River Revival - detailing the progress of environmental initiatives at the Savage
River minesite - may be viewed on the environmental section of Ivanhoe's
website: www.ivanhoemines.com.
The award for Environmental Excellence is the second major environmental
achievement by Ivanhoe's international mining operations this year. In
March, Ivanhoe's 50%-owned S&K; Copper Mine in Myanmar was awarded ISO
14001 Environmental Certification - recognized worldwide as one of the most
exacting, impartial benchmarks used to evaluate environmental management
systems.
Savage River's award for mine water management and S&K;'s ISO
certification culminate specific initiatives that are consistent with
Ivanhoe's guiding statement of Values and Responsibilities. The statement,
which encompasses health, safety, human rights and the environment, is
posted on the company's website.
"Our employees worldwide are aware of our fundamental commitment to
environmental, social and operational excellence," Mr. Kunz said. "It's
always gratifying to see successes receive the recognition they deserve, and the
Ivanhoe board of directors is very proud of all of our employees who
contributed to the environmental programs in Australia and Myanmar."
Ivanhoe is an international mining company producing LME Grade A copper
from its Monywa joint venture in Myanmar and high-quality iron ore products
from its Savage River mine and Port Latta pellet plant in Australia. Ivanhoe
plans to resume limited gold production at the Bakyrchik Gold Mine in
Kazakhstan this summer. Ivanhoe had pro forma revenues of approximately
US$84.8 million (CDN$127.2 million) in 2000 on net sales of approximately
13,350 tonnes of copper, 2.19 million tonnes of iron ore pellets and 19,400
tonnes of iron ore concentrate.
Ivanhoe is developing discoveries of copper and gold in Mongolia,
Myanmar and South Korea. The company also owns 18.1% of Emperor
Mines Limited, the owner and operator of the Emperor Gold Mine in Fiji.
Ivanhoe shares are traded on the Toronto and Australian stock exchanges
under the symbol IVN.
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