Rafal Gerszak
Did somebody say trillion?
Nobody seems to be sure exactly what Ivanhoe Mines executive chairman Robert Friedland said at an Australian mining conference to lead Bloomberg News and Australian Associated Press to quote him as saying Ivanhoe's Oyu Tolgoi mine had a net present value of about $16-trillion (U.S.).
A call to Ivanhoe confirms that no matter what Mr. Friedland said, he meant $16.08-billion. That's B for Bob.
Back in May, the company said that the mine's resources at current metal prices had an NPV of about $15.2-billion, but as metal prices have risen, so has the value.
Bloomberg has now corrected its story. Here's a link to the original AAP story.