CUSIP NO. 46579N      Schedule 13G                                 Page 1 of 9

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*

                               IVANHOE MINES LTD.
                               ------------------
                                (Name of Issuer)

                           COMMON SHARES, NO PAR VALUE
                           ---------------------------
                         (Title of Class of Securities)

                                     46579N
                                     ------
                                 (CUSIP Number)

                                31 DECEMBER 2005
                                ----------------
             (Date of Event Which Requires Filing of this Statement)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of SECTION 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).



------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS
SCHEDULE IS FILED:

[_] Rule 13d-1(b)
[_] Rule 13d-1(c)
[X] Rule 13d-1(d)
------------------------------------------------------------------------------



CUSIP NO. 46579N                  Schedule 13G                     Page 2 of 9

--------------------------------------------------------------------------------
   1.    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE
         PERSONS (ENTITIES ONLY)

         Robert Martin Friedland
--------------------------------------------------------------------------------
   2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) N/A

         (a)  [_]
         (b)  [_]

--------------------------------------------------------------------------------
   3.    SEC USE ONLY

--------------------------------------------------------------------------------
   4.    CITIZENSHIP OR PLACE OF ORGANIZATION:  American and Canadian

--------------------------------------------------------------------------------

   Number of Shares     5.    SOLE VOTING POWER: 100,834,334
   Beneficially Owned   --------------------------------------------------------
   by                   6.    SHARED VOTING POWER: 0
   Each Reporting       --------------------------------------------------------
   Person with          7.    SOLE DISPOSITIVE POWER: 100,834,334
                        --------------------------------------------------------
                        8.    SHARED DISPOSITIVE POWER: 0
--------------------------------------------------------------------------------
   9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

         100,834,334
--------------------------------------------------------------------------------
   10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: N/A

--------------------------------------------------------------------------------
   11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 31.92%

--------------------------------------------------------------------------------
   12.   TYPE OF REPORTING PERSON:  IN

--------------------------------------------------------------------------------



CUSIP NO. 46579N                  Schedule 13G                     Page 3 of 9

--------------------------------------------------------------------------------
   1.    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE
         PERSONS (ENTITIES ONLY)

         Newstar Holdings SRL
--------------------------------------------------------------------------------
   2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) N/A

   (a)  [_]
   (b)  [_]

--------------------------------------------------------------------------------
   3.    SEC USE ONLY

--------------------------------------------------------------------------------
   4.    CITIZENSHIP OR PLACE OF ORGANIZATION:  Barbados

--------------------------------------------------------------------------------

   Number of Shares     5.    SOLE VOTING POWER: 81,023,533
   Beneficially Owned   --------------------------------------------------------
   by                   6.    SHARED VOTING POWER: 0
   Each Reporting       --------------------------------------------------------
   Person with          7.    SOLE DISPOSITIVE POWER: 81,023,533
                        --------------------------------------------------------
                        8.    SHARED DISPOSITIVE POWER: 0
--------------------------------------------------------------------------------
   9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

         81,023,533

--------------------------------------------------------------------------------
   10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: N/A

--------------------------------------------------------------------------------
   11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 25.65%

--------------------------------------------------------------------------------
   12.   TYPE OF REPORTING PERSON:  OO

--------------------------------------------------------------------------------



CUSIP NO. 46579N                  Schedule 13G                     Page 4 of 9

--------------------------------------------------------------------------------
   1.    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE
         PERSONS (ENTITIES ONLY)

         Newstar Securities SRL
--------------------------------------------------------------------------------
   2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) N/A

         (a)  [_]
         (b)  [_]

--------------------------------------------------------------------------------
   3.    SEC USE ONLY

--------------------------------------------------------------------------------
   4.    CITIZENSHIP OR PLACE OF ORGANIZATION:  Barbados

--------------------------------------------------------------------------------

   Number of Shares     5.    SOLE VOTING POWER: 81,023,533
   Beneficially Owned   --------------------------------------------------------
   by                   6.    SHARED VOTING POWER: 0
   Each Reporting       --------------------------------------------------------
   Person with          7.    SOLE DISPOSITIVE POWER: 81,023,533
                        --------------------------------------------------------
                        8.    SHARED DISPOSITIVE POWER: 0
--------------------------------------------------------------------------------
   9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

         81,023,533

--------------------------------------------------------------------------------
   10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: N/A

--------------------------------------------------------------------------------
   11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 25.65%

--------------------------------------------------------------------------------
   12.   TYPE OF REPORTING PERSON:  OO

--------------------------------------------------------------------------------



CUSIP NO. 46579N                  Schedule 13G                     Page 5 of 9

--------------------------------------------------------------------------------
   1.    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE
         PERSONS (ENTITIES ONLY)

         Australian Bulk Minerals SRL
--------------------------------------------------------------------------------
   2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) N/A

         (a)  [_]
         (b)  [_]

--------------------------------------------------------------------------------
   3.    SEC USE ONLY

--------------------------------------------------------------------------------
   4.    CITIZENSHIP OR PLACE OF ORGANIZATION:  Barbados

--------------------------------------------------------------------------------

   Number of Shares     5.    SOLE VOTING POWER: 50,322,533
   Beneficially Owned   --------------------------------------------------------
   by                   6.    SHARED VOTING POWER: 0
   Each Reporting       --------------------------------------------------------
   Person with          7.    SOLE DISPOSITIVE POWER: 50,322,533
                        --------------------------------------------------------
                        8.    SHARED DISPOSITIVE POWER: 0
--------------------------------------------------------------------------------
   9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

         50,322,533

--------------------------------------------------------------------------------
   10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: N/A

--------------------------------------------------------------------------------
   11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 15.93%

--------------------------------------------------------------------------------
   12.   TYPE OF REPORTING PERSON:  OO

--------------------------------------------------------------------------------



CUSIP NO. 46579N                  Schedule 13G                     Page 6 of 9

--------------------------------------------------------------------------------
   1.    NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE
         PERSONS (ENTITIES ONLY)

         Goldamere Holdings SRL
--------------------------------------------------------------------------------
   2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) N/A

         (a)  [_]
         (b)  [_]

--------------------------------------------------------------------------------
   3.    SEC USE ONLY

--------------------------------------------------------------------------------
   4.    CITIZENSHIP OR PLACE OF ORGANIZATION:  Barbados

--------------------------------------------------------------------------------

   Number of Shares     5.    SOLE VOTING POWER: 50,322,533
   Beneficially Owned   --------------------------------------------------------
   by                   6.    SHARED VOTING POWER: 0
   Each Reporting       --------------------------------------------------------
   Person with          7.    SOLE DISPOSITIVE POWER: 50,322,533
                        --------------------------------------------------------
                        8.    SHARED DISPOSITIVE POWER: 0
--------------------------------------------------------------------------------
   9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

         50,322,533

--------------------------------------------------------------------------------
   10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: N/A

--------------------------------------------------------------------------------
   11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 15.93%

--------------------------------------------------------------------------------
   12.   TYPE OF REPORTING PERSON:  OO

--------------------------------------------------------------------------------



CUSIP NO. 46579N                  Schedule 13G                     Page 7 of 9


Pursuant to Rule 13d-2(b) of Regulation 13D-G of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended, the
undersigned are hereby amending their Schedule 13G Statement dated December
31, 2003 (the "Schedule 13G") to reflect Newstar Securities' increased
ownership percentage in ABM. Capitalized terms used herein have the meanings
ascribed to them in the Schedule 13G.

ITEM 1

No changes.

ITEM 2

No changes.

ITEM 3

No changes.

ITEM 4.  OWNERSHIP

     a.  Amount Beneficially Owned:

                  Goldamere directly beneficially owns an aggregate of
         50,322,533 Shares. ABM may be deemed to beneficially own an aggregate
         of 50,322,533 Shares as a result of its voting and dispositive power
         over 50,322,533 Shares beneficially owned by Goldamere, its
         wholly-owned subsidiary. Newstar Securities may be deemed to
         beneficially own an aggregate of 81,023,533 Shares as a result of its
         voting and dispositive power over 50,322,533 Shares beneficially
         owned by ABM, its 91.91% subsidiary, in addition to the 30,701,000
         Shares owned directly by it. Newstar Holdings may be deemed to
         beneficially own an aggregate of 81,023,533 Shares as a result of its
         voting and dispositive power over 81,023,533 Shares beneficially
         owned by Newstar Securities, its wholly-owned subsidiary. Mr.
         Friedland may be deemed to beneficially own an aggregate of
         100,834,334 Shares as a result of his voting and dispositive over
         81,023,533 Shares beneficially owned by Newstar Holdings, his
         wholly-owned company, in addition to the 19,810,801 Shares owned
         directly by him.

      b. Percent of class:

                  Mr. Friedland may be deemed to beneficially own
         approximately 31.92% of the outstanding Common Shares. Newstar
         Holdings and Newstar Securities may be deemed to beneficially own
         approximately 25.65% of the outstanding Common Shares. ABM and
         Goldamere may be deemed to beneficially own approximately 15.93% of
         the outstanding Common Shares.



CUSIP NO. 46579N                  Schedule 13G                     Page 8 of 9


    c.   Number of shares as to which such person has sole and shared power to
         vote and sole and shared power to dispose:

                  Goldamere may be deemed to have sole power to direct the
         voting and disposition of the 50,322,533 Shares it beneficially owns.
         ABM may be deemed to have sole power to direct the voting and
         disposition of the 50,322,533 Shares beneficially owned by Goldamere,
         its wholly-owned subsidiary. Newstar Securities may be deemed to have
         sole power to direct the voting and disposition of the 50,322,533
         Shares beneficially owned by ABM, its 91.91% subsidiary, in addition to
         the 30,701,000 Shares owned directly by it. Newstar Holdings may be
         deemed to have sole power to direct the voting and disposition of the
         81,023,533 Shares beneficially owned by Newstar Securities, its
         wholly-owned subsidiary. Mr. Friedland may be deemed to have sole power
         to direct the voting and disposition of the 81,023,533 Shares
         beneficially owned by Newstar Holdings, his wholly-owned company, in
         addition to the 19,810,801 Shares owned directly by him.

ITEM 5.

No changes.

ITEM 6.

No changes.

ITEM 7.

No changes.

ITEM 8.

No changes.

ITEM 9.

No changes.

ITEM 10.

No changes.

                 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]





CUSIP NO. 46579N                  Schedule 13G                     Page 9 of 9


SIGNATURE.

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and
correct.


Dated as of January 31, 2006


                                          /s/ Robert Martin Friedland
                                          ------------------------------------
                                          Robert Martin Friedland


                                          NEWSTAR HOLDINGS SRL


                                          By:  /s/ Robert Martin Friedland
                                               -------------------------------
                                               Name:  Robert Martin Friedland
                                               Title: President


                                          NEWSTAR SECURITIES SRL


                                          By:  /s/ Robert Martin Friedland
                                               -------------------------------
                                               Name:  Robert Martin Friedland
                                               Title: President


                                          AUSTRALIAN BULK MINERALS SRL


                                          By:  /s/ Robert Martin Friedland
                                               -------------------------------
                                               Name:  Robert Martin Friedland
                                               Title: President


                                          GOLDAMERE HOLDINGS SRL


                                          By:  /s/ Robert Martin Friedland
                                               -------------------------------
                                               Name:  Robert Martin Friedland
                                               Title: President