https://www.miningweekly.com
Copper|Mining|PROJECT
Copper|Mining|PROJECT
copper|mining|project

Ivanhoe receives additional C$679m investment

15th May 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Co-chairpersons of TSX-listed Ivanhoe Mines, Robert Friedland and Yufeng Sun, on Wednesday announced that Citic Metal, through a subsidiary, is investing an additional C$612-million in Ivanhoe at C$3.98 a share.

Zijin Mining Group has now also fully exercised its antidilution rights, also at C$3.98 a share, thereby generating additional proceeds for Ivanhoe Mines of C$67-million.

The combined proceeds of more than C$679-million from Citic Metal and Zijin Mining are expected to be received by no later than September 7, positioning Ivanhoe to finance its first two mines – Kakula and Kipushi, in the Democratic Republic of the Congo – to commercial production, and significantly advance, or achieve, production at the Platreef project, in South Africa.

Zijin Mining is Ivanhoe’s joint venture partner at the Kamoa-Kakula copper project.

Zijin’s exercise of its antidilution rights will maintain its ownership in Ivanhoe Mines at 9.8%

Friedland and Sun also announced that Zijin Mining chairperson Chen Jinghe has been nominated for election to Ivanhoe’s board of directors at its annual and special meeting of shareholders to be held on June 28.

Chen is the founder of Zijin Mining and has been its chairperson since 2000.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 
Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.941 1.004s - 312pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: