News

Ivanhoe Mines to pump $600M in assets in Africa

Ivanhoe Mines to pump $600M in assets in Africa
  • Comments   -   Tuesday, 10 July 2018 - 13:05

(Ecofin Agency) - TSX-listed Ivanhoe Mines announced it will soon disburse over C$800M (about $609 million) to advance operations at its mining assets in South Africa and DR Congo. The goal is to speed up the development of its three world-class mines including Kipushi, Kamoa-Kakula, and Platreef.

Most of the fund (C$723 million) will be mobilized through a private placement that will see China’s CITIC Metals become Ivanhoe’s majority shareholder. The latter indicated that the Chinese group completed its due diligence for included assets and got internal green light to finalize the investment agreement announced last June.

Furthermore, Ivanhoe reported that Zijin Mining Group, its joint-venture partner at the Kamoa-Kakula Project, has exercised its existing anti-dilution rights, generating additional C$78 million.

Let’s remind that the platreef project (South Africa), managed by subsidiary Ivanplats, focuses on platinum, palladium, nickel, copper and gold while the Kipushi project, under renovation in DR Congo, is a zinc-copper-silver germanium mine. The third asset, Kamoa-Kakula, is the world’s fourth-largest copper deposit.

Louis-Nino Kansoun


APPP2018 480x110 ENG

Due to ecosystem degradation, Africa loses $68 billion annually, a report from the...
Read more |  18 September 2018
AXA Assurance Maroc SA acquired stakes in Dabadoc, a Moroccan startup that...
Read more |  18 September 2018
Last weekend, Cradle Arc announced that its PL33/2005 and PL180/2008 prospecting permits...
Read more |  17 September 2018
Last Saturday, Egypt’s oil minister Tarek al-Moulla informed in a release that...
Read more |  17 September 2018
Blue Garnet Ventures, an investment company that invests in African companies specialized...
Read more |  17 September 2018
Tunisia plans to issue $1 billion Eurobonds at the beginning of October 2018...
Read more |  17 September 2018
Every payment above EGP100,000 (about $5,500) to government institutions should be done electronically...
Read more |  17 September 2018
Due to ecosystem degradation, Africa loses $68 billion annually, a report from the...
Read more |  18 September 2018
AXA Assurance Maroc SA acquired stakes in Dabadoc, a Moroccan startup that...
Read more |  18 September 2018
Last weekend, Cradle Arc announced that its PL33/2005 and PL180/2008 prospecting permits...
Read more |  17 September 2018
Last Saturday, Egypt’s oil minister Tarek al-Moulla informed in a release that...
Read more |  17 September 2018
Blue Garnet Ventures, an investment company that invests in African companies specialized...
Read more |  17 September 2018
Tunisia plans to issue $1 billion Eurobonds at the beginning of October 2018...
Read more |  17 September 2018
Every payment above EGP100,000 (about $5,500) to government institutions should be done electronically...
Read more |  17 September 2018

Copyright Agence Ecofin © 2018. All Rights Reserved.