Articles for tag: CITIC, Ivanhoe, metal, mines, sell, stake

May 30, 2024

Ron Finklestien

mining

CITIC Metal to sell up to 2% stake in Ivanhoe Mines

In a press release via the Shanghai Stock Exchange, CITIC said it has received board approval to sell at most 25,390,428 shares, or 2% of Ivanhoe’s outstanding share capital. Shareholder approval for the divestment will be sought in a meeting scheduled for June 11. Assuming CITIC gains the approval and sells the maximum amount, it will then hold approximately 289.3 million shares, for a 22.78% shareholding in Ivanhoe. The announcement by CITIC comes at a time when the Canadian government is placing higher surveillance on foreign money flowing into its critical minerals sector, with extra scrutiny on those coming from China.

February 7, 2024

Ron Finklestien

mining

Revitalizing Africa: Ivanhoe, Trafigura Pioneer New Rail System Revitalizing Africa: Ivanhoe, Trafigura Pioneer New Rail System

Biden Administration Backs African Rail Revival Investing in the future always means safeguarding the past. In a bold move to rejuvenate a century-old rail line that connects vital African mines to the Lobito port, the Biden administration is committing $250 million to breathe new life into this historical artery, bolstering the continent’s economic potential. Expanding Rail Connections: A Strategic Move Anticipating a momentous expansion of the railway network, the administration is also funding a project to link the railway into Zambia. This endeavor, which estimates suggest will cost $1.6 billion, demonstrates a forward-looking approach to infrastructure development and regional connectivity.