Ivanhoe Mines' Kipushi Project: The Zinc Elephant In The Room
Peter Arendas • 13 Comments
Peter Arendas • 13 Comments
Ivanhoe Mines: 3 World-Class Projects Under One Roof
Peter Arendas • 21 Comments
Peter Arendas • 21 Comments
Mon, Aug. 29, 10:56 AM
- Ivanhoe Mines (OTCPK:IVPAF +13.1%) says it plans to hire a strategic adviser to address unsolicited interest received in recent months after a major copper discovery in Africa earlier this year.
- Ivanhoe does not identify the parties that have expressed interest, beyond saying that the inquiries are from “significant mining industry participants in Asia, Europe, Africa and elsewhere.”
- Ivanhoe's Kakula discovery is part of the company’s Kamoa copper project, which is thought to be the world’s largest untouched high-grade copper discovery.
Fri, Aug. 12, 7:40 AM
Thu, May 12, 5:53 PM
Thu, Mar. 24, 7:43 AM
- Ivanhoe Mines (OTCPK:IVPAF): FY15 EPS of $0.91
Sep. 23, 2015, 4:58 PM
- Democratic Republic of Congo's government reverses course and now says it supports Ivanhoe Mines' (OTCPK:IVPAF) $400M sale of a stake in its Kamoa copper mine to China's Zijin Mining (OTCPK:ZIJMF).
- The government's earlier concerns were never specified in public, but Ivanhoe also will sell an additional 15% stake in the mine to the government, which currently controls 5%.
- The sale is a prerequisite for the development of Kamoa, which is thought to be the world's largest untouched high-grade copper discovery.
Jun. 16, 2015, 6:55 PM
- Democratic Republic of Congo's government says Ivanhoe Mines' (OTCPK:IVPAF) sale of a stake in the Kamoa copper mine to China's Zijin Mining (OTCPK:ZIJMF) should be suspended until its concerns can be resolved.
- The government, which holds a 5% stake in the Kamoa project, says Ivanhoe had promised it an additional 15% stake and is concerned that the sale to Zijin would dilute its new shares.
- Ivanhoe said last month it would sell a 49.5% stake in Kamoa to Zijin for $412M.
May 26, 2015, 8:15 AM
- Barrick Gold (NYSE:ABX) announces a strategic partnership to help forge closer ties with China, agreeing to sell a 50% stake in its unit that manages the Porgera gold mine in Papua New Guinea to Zijin Mining (OTCPK:ZIJMF) for $298M in cash.
- The unit, Barrick Niugini, owns 95% of Porgera and Papua New Guinea owns the rest; the mine is expected to produce 500K-550K oz. of gold this year.
- Separately, Zijin also says it is buying a 49.5% stake in Ivanhoe Mines' (OTCPK:IVPAF) Kamoa copper project in the Democratic Republic of Congo for $412M.
- ABX -1% premarket.
Mar. 23, 2015, 10:39 AM
- China's Zijin Mining (OTCPK:ZIJMF) agrees to buy a 9.9% stake in Ivanhoe Mines (OTCPK:IVPAF) for ~C$105M, which will provide support for the Canadian miner's development stage projects in South Africa and the Democratic Republic of Congo.
- Under the terms of the deal, Ivanhoe Mines, which is led by mining tycoon Robert Friedland, will issue ~76.8M common shares to Zijin through a private placement at a price of C$1.36/share.
Oct. 31, 2014, 7:58 AM
- A dispute between Ivanhoe Mines (OTCPK:IVPAF) and South Africa's mining ministry is delaying construction of the world's biggest platinum mine planned since 1993.
- South Africa’s Department of Mineral Resources delayed authorization to start building the $1.6B Platreef mine by 12 weeks to a target date of Nov. 26, saying some elements of Ivanhoe’s plan to benefit the surrounding community were insufficient, Bloomberg reports.
- Platreef is projected to produce at least 785K oz. of platinum, palladium, rhodium and gold by 2024.
Aug. 18, 2014, 9:08 AM
- Ivanhoe Mines (OTCPK:IVPAF) has hired BMO and Morgan Stanley as financial advisers to conduct a strategic review of its Kamoa and Kipushi copper projects in the Democratic Republic of Congo in an effort to find third-party strategic investors or joint venture parties.
- Ivanhoe says it will continue to examine other options such as a corporate reorganization and a project spinoff.
Jun. 17, 2014, 11:59 AM
- China's largest gold mining company, China National Gold, is on the hunt for global acquisitions and partnerships, and recently talked about potential partnerships with Barrick Gold (ABX +0.3%), President Xin Song says.
- Both parties are looking for potential opportunities jointly, Song says, but those are not likely to include an investment in the Pascua Lama mine ABX has put on hold amid cost overruns and environmental demands from Chile's government; the the project has several challenges, including its high elevation, its permitting troubles and high capital expenditure.
- China National is no longer in talks with Ivanhoe Mines (IVPAF) on African investment, Song says.
May 20, 2014, 6:21 PM
- Ivanhoe Mines (IVPAF) says it plans to issue 83.3M units priced at $1.50 each to raise $150M to fund planned work on its Kamoa and Kipushi projects in the Democratic Republic of Congo this year.
- Also, executive chairman Robert Friedland says he will buy $25M of units on the same terms as the public offering.
- Longer-term, Ivanhoe will need much more capital to develop its projects and is looking at splitting apart its assets in South Africa and the Congo.
May 16, 2014, 11:22 AM
- Ivanhoe Mines says (IVPAF +7.2%) it is considering various options including splitting the company’s projects into separate publicly traded entities, asset sales, joint ventures and alternative stock exchange listings.
- While Ivanhoe exited Q1 with $170M in cash, it has committed $146M for the Platreef project in South Africa, which leaves very little for development of its Kamoa and Kipushi deposits in the Democratic Republic of Congo.
- Ivanhoe wants to begin developing a mine-access decline at Kamoa this year and conduct an underground drilling program at Kipushi, but it lacks funds to do so unless it can raise more by the end of June.
Oct. 16, 2013, 12:39 PM
- Ivanhoe Mines (IVPAF.OB +6.8%) surges in the wake of reports of "extraordinary" and "unprecedented" drilling results at its Platreef project in South Africa.
- The company says the combined grade and thickness of the platinum group metals and base metals mineralization seen in the drilling "far exceeds" anything previously encountered at the Platreef project.