only a rumour as well but possible joint venture with QMN...

only a rumour as well but possible joint venture with QMN

Ivanhoe Australia Ltd have recently purchased the Osborne mine and sulphide
concentrator processing facilities and have announced expansion and development of the
facility to process their molly and rhenium discovery ore located to the north near Mt Dore
and have announced the construction of a haul road from Osborne past Ivanhoes Victoria
mine which adjoins QMCs newly acquired Stuart mine (resources announced) to Mt Dore
and connecting to the main Selwyn Road to Kuridala thence Malbon and the bitumen road
to Cloncurry which is being upgraded as well.

The strategy of QMC is to mine properties which contain substantial JORC resources and,
in some cases, have already been mine engineered and for which certain approvals have
been obtained in the past for mining activities. QMC, where possible, wishes to engage
with other mining companies in their strategic development so as not to duplicate
infrastructure and processing facilities but to enter into joint venture and infrastructure
sharing arrangements

QMC is currently in a number of negotiations in relation to the development and production
of their Cloncurry south copper projects. The two main project areas are White Range
(Greenmount, Mt McCabe, Vulcan, Mt McNamara, Hampden mining leases) and the
second areas Selwyn - Selwyn north (Stuart, Belgium, Answer, Young Australian East
Drift, Kuridala mining leases).
These discussions revolve around joint ventures for mining and ore treatment and third
party ore processing, the establishment of stand alone ore processing facilities as well as
exploration to be carried out on mining leases and EPMs. The various negotiations have
been progressed to an advanced stage and QMC is hopeful that they may be formalised
into Heads of Agreement within the next few months.