Canada's Ivanhoe Mines secures $500 million investment from Qatar wealth fund
Canadian mining company Ivanhoe Mines said on Wednesday it will raise $500 million from Qatar Investment Authority (QIA) in a private placement, giving the sovereign wealth fund a 4% stake. QIA will buy 57.5 million Ivanhoe shares at C$12 apiece, below the stock's closing price of C$13.19 on Tuesday. The proceeds will support growth opportunities in critical minerals exploration and development as well as general corporate purposes, the miner said.
Canadian mining company Ivanhoe Mines said on Wednesday it will raise $500 million from Qatar Investment Authority (QIA) in a private placement, giving the sovereign wealth fund a 4% stake. QIA will buy 57.5 million Ivanhoe shares at C$12 apiece, below the stock's closing price of C$13.19 on Tuesday. The proceeds will support growth opportunities in critical minerals exploration and development as well as general corporate purposes, the miner said.