After completing a strategic review, Ivanhoe Australia said it will be considering joint venture arrangements for all its projects and is looking to save up to $74 million US in capital expenditure costs over the next two years.
The copper-gold miner, which trades on the Toronto Stock Exchange, said its review found $44 million to $46 million of annual operating and overhead costs savings.
Ivanhoe Australia said the savings identified in the review will be implemented this year.
The company said it wants to consider joint venture arrangements to improve access to capital and skills, and to manage risk.
Ivanhoe Australia's largest shareholder is Vancouver-based Turquoise Hill Resources, which was former known as Ivanhoe Mines Ltd.
