Zijin Mining to Buy Stake of Canada Ivanhoe Mines with CAD 104 million-Shanghai Metals Market

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Zijin Mining to Buy Stake of Canada Ivanhoe Mines with CAD 104 million

Company News 10:59:44AM Mar 24, 2015 Source:SMM

SHANGHAI, Mar. 24 (SMM) – Zijin Mining’s subsidiary Sharp Hero Developments Limited entered into agreement with Canada’s Ivanhoe Mines Limited to buy stake of the latter with CAD 1.36 per share, the company said in a statement.

Ivanhoe Mines Limited is a Canadian mining company listed on Toronto Stock Exchange, and owns 95% of interest in Kamoa copper mine and 68% interest in Kipushi polymetallic mine, both located in DR Congo, as well as 64% of stake in South Africa’s Kipushi platinum mine.

Sharp Hero Developments will acquire 76,817,020 shares, or 9.9%, of Ivanhoe Mines, with cash consideration of CAD 104.47 million ($83.2 million).

The transaction will allow Zijin Mining to carry out mining operation in Africa and increase its copper, lead & zinc, and platinum resources.

 The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.


For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

Key Words:  Zijin Mining Group Co. 

Zijin Mining to Buy Stake of Canada Ivanhoe Mines with CAD 104 million

Company News 10:59:44AM Mar 24, 2015 Source:SMM

SHANGHAI, Mar. 24 (SMM) – Zijin Mining’s subsidiary Sharp Hero Developments Limited entered into agreement with Canada’s Ivanhoe Mines Limited to buy stake of the latter with CAD 1.36 per share, the company said in a statement.

Ivanhoe Mines Limited is a Canadian mining company listed on Toronto Stock Exchange, and owns 95% of interest in Kamoa copper mine and 68% interest in Kipushi polymetallic mine, both located in DR Congo, as well as 64% of stake in South Africa’s Kipushi platinum mine.

Sharp Hero Developments will acquire 76,817,020 shares, or 9.9%, of Ivanhoe Mines, with cash consideration of CAD 104.47 million ($83.2 million).

The transaction will allow Zijin Mining to carry out mining operation in Africa and increase its copper, lead & zinc, and platinum resources.

 The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.


For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

Key Words:  Zijin Mining Group Co.