EXHIBIT 23.5

                                CONSENT OF EXPERT

                  Reference is made to the Registration Statement on Form 40-F
(the "Registration Statement") of Ivanhoe Mines Ltd. (the "Company") to be filed
with the United States Securities and Exchange Commission pursuant to the
Securities Act of 1933, as amended.

                  We hereby consent to the use of and reference to our name and
our reports, and the inclusion of information derived from our reports, under
the heading "Item 3: General Development of the Business - History" of the
Company's Annual Information Form for the year ended December 31, 2000, dated
May 15, 2001, as incorporated by reference into the Registration Statement.

Sincerely,

DUNDEE SECURITIES CORPORATION

______________________________
Name:
Title:

Date: November 17, 2003