Ivanhoe Mines announces US$500 million strategic investment from QIA
Ivanhoe Mines announced a US$500 million investment from Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar.
In accordance with the investment, Ivanhoe Mines will issue 57,516,666 common shares to QIA by way of a private placement at a price of C$12.00 per share, yielding gross proceeds to Ivanhoe of approximately US$500 million.
Upon completion of the investment, QIA will own approximately 4% of Ivanhoe Mines’ issued and outstanding common shares.
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Ivanhoe Mines intends to use the proceeds from the investment to advance growth opportunities related to the exploration, development, and mining of critical minerals, as well as for general corporate purposes.
Ivanhoe Mines Executive Co-Chair, Robert…
