Democratic Republic of Congo's government supports Ivanhoe Mines Ltd.'s $400-million (U.S.) sale of a stake in its Kamoa copper mine to China's Zijin Mining , it said on Tuesday, dropping earlier objections to the deal.
June 17 Ivanhoe Mines Ltd said it was committed to selling up to a further 15 percent stake in its Kamoa Copper Project to the Democratic Republic of Congo, a day after the government expressed concern about another stake sale to a Chinese company.
Ivanhoe Mines (OTCPK:IVPAF) (until August 2013 Ivanplats Limited) is a mining company with massive potential. It holds three world-class deposits with huge amounts of platinum group metals, nickel, zinc and copper.
The government opposes the transaction, according to media reports, because it was not consulted on Zijin Mining Group Co Ltd's agreement to buy a 49.5 percent stake in Ivanhoe subsidiary Kamoa Holding Ltd, which owns 95 percent of the DRC copper ...
TORONTO - Ivanhoe Mines has retained BMO Capital Markets Ltd and Morgan Stanley & Co as financial advisers to conduct a strategic review of its Kamoa and Kipushi copper projects in the Democratic Republic of Congo (DRC).
Less than two years after he took Ivanhoe Mines Ltd. public, Robert Friedland is already looking at ways to break it up. Vancouver-based Ivanhoe revealed on Thursday it is studying a number of “potentially significant corporate and project-level options.