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April 16, 2012, 11:03 a.m. EDT

Ivanhoe shares fall on Mongolia news

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    Ivanhoe Mines Ltd. (IVN)

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By Sue Chang

CA:IVN

SAN FRANCISCO (MarketWatch) -- Shares of Ivanhoe Mines /zigman2/quotes/207656050/delayed CA:IVN -0.17% dropped in Toronto on Monday after the government of Mongolia said it is suspending certain mining licenses owned by SouthGobi Sands LLC. Ivanhoe has a controlling stake in SouthGobi Resources Ltd. which owns SouthGobi Sands. The move is believed to be related to the proposed sale of Ivanhoe's stake to Aluminum Corporation of China Ltd., according to a statement from SouthGobi Resources. Shares of Ivanhoe fell 5.5% to C$12.05 ($12.03). The benchmark S&P/TSX Composite Index edged up 13.43 points to 12,053.82.

/zigman2/quotes/207656050/delayed
CA : Canada: Toronto
$ 5.88
-0.01 -0.17%
Volume: 763,778
Nov. 27, 2020 3:17p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$7.10 billion
Rev. per Employee
N/A
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