{"id":1112680,"date":"2019-04-25T12:30:34","date_gmt":"2019-04-25T12:30:34","guid":{"rendered":"http:\/\/www.mining.com\/?p=984327"},"modified":"2019-04-25T12:30:34","modified_gmt":"2019-04-25T12:30:34","slug":"ivanhoe-to-fast-track-drc-mine-into-production-after-citic-invests-454m","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1112680","title":{"rendered":"Ivanhoe to fast-track DRC mine into production after CITIC invests $454m"},"content":{"rendered":"

Ivanhoe Mines (TSX:IVN) is ready to finish building its giant copper mine in the Democratic Republic of Congo after its largest shareholder pumped an additional C$612 million<\/a> (roughly $454m) into the Canadian company.<\/p>\n

China\u2019s state-owned CITIC Metal is paying C$3.98 per share, a premium of 29% over Ivanhoe\u2019s last closing price. The investment, the second major one in less than a year<\/a>, paired with the Vancouver-based miner’s current cash balance of about $512 million, will increase the company’s total cash on hand to C$1.3 billion ($1 billion),\u00a0the parties said.<\/p>\n

“The investment announced today will comfortably provide Ivanhoe with the equity cushion required to fast-track Kamoa-Kakula’s six million-tonne-per-annum Phase 1 mine to production,\u201d billionaire Robert Friedland, the company\u2019s founder and executive chairman said in the statement<\/a>.<\/p>\n

Friedland, who made his fortune from the Voisey\u2019s Bay nickel project in Canada in the 1990s, has said<\/a>\u00a0the capacity of the project\u2019s first phase could later be easily tripled. He believes Kamoa-Kakula has the potential to become\u00a0the world\u2019s second-largest copper mine.<\/p>\n

More to come…<\/em><\/p>\n

The post Ivanhoe to fast-track DRC mine into production after CITIC invests $454m<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

This second major cash injection brings the Chinese miner’s total investment in Ivanhoe to $1 billion, which gives the Canadian company the equity cushion required to build its massive Kamoa-Kakula copper mine.<\/p>\n

The post Ivanhoe to fast-track DRC mine into production after CITIC invests $454m<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1389,868,870,829,404,369],"tags":[9,25,32,33],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112680"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1112680"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112680\/revisions"}],"predecessor-version":[{"id":1112730,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112680\/revisions\/1112730"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1112680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1112680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1112680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}