Zijin Mining increases its stake in Kamoa-Kakula Copper Mine and Citic Metals becomes the main shareholder

Publicado: Oct 09, 2019 09:21 (GMT+8)
Zijin Mining, one of China's largest mining groups, bought a stake for about C $194 million (US $146 million), raising its stake in Canada's Ivanhoe Mining from 9.8 per cent to 13.88 per cent. Zijin has a direct stake of 36.9 per cent in its Kamoa-Kakula copper project, which is expected to become the world's second-largest copper mine and is expected to start production by the end of 2021, according to an independent pre-feasibility study released in February. Copper production is expected to reach 700000 metal tons.

SMM10, April 9-Zijin Mining, one of China's largest mining groups, bought 35.7 million shares in Citic Metals and 12.9 million shares in Ivanhoe Mining (Ivanhoe Mines) from Citic Metals and Ivanhoe Mining founder Robert Friedland for about C $194 million (US $146 million), increasing its stake in Canada's Ivanhoe Mining from 9.8 per cent to 13.88 per cent. The move means Robert Friedland's stake in the company has fallen to 13.2 per cent, making Zijin Mining and Citic Metals two major shareholders.

And Zijin has a direct stake of 36.9 per cent in its Kamoa-Kakula copper project, which is expected to become the world's second-largest copper mine by the end of 2021, according to an independent pre-feasibility study released in February. Copper production is expected to reach 700000 metal tons.

"Click to sign up for the Bronze Rod Industry Summit Forum

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

 

Declaración de Fuente de Datos: Excepto la información disponible públicamente, todos los demás datos son procesados por SMM basándose en información pública, comunicación de mercado y confiando en el modelo de base de datos interna de SMM. Son solo para referencia y no constituyen recomendaciones para la toma de decisiones.

Para cualquier consulta o para obtener más información, por favor contacte: lemonzhao@smm.cn
Para más información sobre cómo acceder a nuestros informes de investigación, contacte con:service.en@smm.cn