Career
Friedland operates Ivanhoe Capital from its corporate headquarters in Singapore – a location that has facilitated his predominant business focus on the Asia Pacific region during the past 20 years.
Friedland was Chief Executive Officer of Canada-based Ivanhoe Mines Ltd. (IVN: TSX, NYSE & NASDAQ), which he founded in 1994 and led to a successful initial public offering on the Toronto Stock Exchange in 1996. He served as Chairman, and later as Executive Chairman, until 2011. Exploration by Ivanhoe Mines since 2000 has discovered a chain of copper, gold and silver deposits at Oyu Tolgoi (Turquoise Hill) in Mongolia’s South Gobi region. The first phase of what is independently projected to be one of the world’s largest porphyry copper and gold mines is under construction at Oyu Tolgoi and is expected to begin commercial production in 2013. Ivanhoe Mines also has substantial interests in SouthGobi Resources, Ivanhoe Australia and Altynalmas Gold.
Friedland was chairman of Galactic Resources which operated Summitville mine, the site of the United States' worst cyanide release and mine bankruptcy and Superfund site. This mine closed in 1990 but continues to affect the region. It is estimated that at least $120 million will be required to clean up the bankrupt Galactic Resources mining site, which has damaged 17 miles of river. The former environmental manager of the facility has been indicted for intentionally dumping lead and cyanide directly into streams.
Copper mines operated by Ivanhoe in Myanmar have recently come under scrutiny as environmental degradation, illicit company practices, as well as inside dealings with the ruling military junta have created ethical concerns.
Friedland's other corporate leadership positions have included:
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- Co-Founder, Executive Co-Chairman and Chief Executive Officer of Ivanhoe Energy Inc. (IE: TSX & IVAN: NASDAQ).
- Chairman of Sunwing Holding Corporation.
- Executive Chairman of Ivanplats Limited.
- Chairman and Non-Executive Director of Ivanhoe Australia Ltd. (IVA: ASX & TSX).
- Chairman, Potash One Inc.
- Co-Chairman of Diamond Fields Resources Ltd.
- Chairman and Chief Executive Officer of Galactic Resources Ltd.
Read more about this topic: Robert Friedland
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