16:24:40 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Ivanhoe Mines Ltd
Symbol IVN
Shares Issued 778,959,807
Close 2016-08-29 C$ 1.91
Market Cap C$ 1,487,813,231
Recent Sedar Documents

Globe says Ivanhoe seeks advice on unsolicited interest

2016-08-30 06:47 ET - In the News

The Globe and Mail reports in its Tuesday, Aug. 30, edition that Ivanhoe Mines ($1.91) plans to hire a banker and get "strategic advice" to deal with the unsolicited interest it has received in recent months. The Globe's Bertrand Marotte and Rachelle Younglai write that stock promoter and chairman Robert Friedland says the bank's mandate will be to advise the board on all options for Ivanhoe. He says, "The mining industry has taken notice of our company." He says Ivanhoe has received "a number of unsolicited inquiries from significant mining industry participants in Asia, Europe, Africa and elsewhere." One of Ivanhoe's main assets is the Kamoa copper project in the Democratic Republic of the Congo. Ivanhoe and China's Zijin Mining Group jointly own 95 per cent of Kamoa through a holding company, with the DRC government owning a 5-per-cent interest. Although weak copper prices have made it difficult for companies to offload lower-quality copper mines, there is demand for top-tier assets. It is unknown whether Mr. Friedland aims to sell the entire company, or just specific assets such as Kamoa or the miner's Platreef platinum-palladium-gold-nickel-copper discovery in South Africa.

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