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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


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.

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

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