Source: AAP                    Date: 10 August, 2010

Confusion surrounding reports about Oyu Tolgoi, Ivanhoe Mines' colossal joint venture with Rio Tinto, has sent ripples throughout the global financial community. A PowerPoint presentation by Ivanhoe Mines chairman Robert Friedland last week at a miners’ conference in Australia said USD16,078,743,199 was the after-tax net present value (NPV) figure for Oyu Tolgoi based on recent metal prices, but Mr. Friedland also said the figure could rise to "trillions".

An Ivanhoe spokesman later clarified that the project indeed contained an estimated USD1 trillion worth of metal in situ, but corrected widespread reports that the NPV was a monumental USD16 trillion plus.