Chinese State-owned CITIC Metal’s C$612-million ($465-million) second equity investment in Canadian mining company Ivanhoe Mines is set to close on August 16, having received all necessary recordals and registration with Chinese government regulatory agencies. Upon closing, Ivanhoe will receive gross proceeds of C$612-million from CITIC Metal Africa, a subsidiary of CITIC Metal, and will issue 153.82-million common shares to CITIC Metal Africa through a private placement at a price of C$3.98 apiece.
