An independent development plan for the Oyu Tolgoi copper mine in Mongolia is slated to be announced after a shareholder meeting in May, Ivanhoe Mines Executive Chairman Robert Friedland has said. Ivanhoe is now looking at “a number of interesting alternatives to enhance our shareholder value,” he told a conference. Ivanhoe has hired Citigroup Inc. and Hatch Corporate Finance, a London-based mining adviser, to explore financing options.

The 50-year investment agreement gives Oyu Tolgoi project shareholders the right of first refusal to purchase any shares if Ivanhoe or the Mongolian Government wish to sell them, and gives Ivanhoe or the Government the same right should shareholders wish to sell, Mr. Friedland said.

Ivanhoe has also announced a separate shareholders” rights plan that is intended to prevent any “creeping” or hostile takeover of Ivanhoe Mines Ltd., the parent of OT LLC, which also holds other projects and interests, including in Ivanhoe Australia and SouthGobi Energy Resources. Shareholders need to vote to approve this in May.